A&B Abstract: Furthering the Justice Department’s Combating Redlining Initiative, the Department of Justice has announced another redlining settlement. But this settlement is different – this one involves a bank that has received top marks by its prudential regulator, the Federal Deposit Insurance Corporation (FDIC), for its compliance with the Community Reinvestment Act (CRA), a statute […]
Banking Regulatory Agencies
Modern-Day Redlining Enforcement: A New Baseline
On October 22, 2021, the U.S. Department of Justice (DOJ) announced an aggressive new initiative, in collaboration with U.S. Attorneys’ Offices throughout the country, to combat the practice of redlining. Three days prior, the Consumer Financial Protection Bureau (CFPB) was said to be hiring up to 30 new enforcement attorneys to focus on redlining and […]
Alston & Bird Welcomes Brendan Clegg
Brendan Clegg joined Alston & Bird in March 2021 as counsel in the Financial Services & Products Group in Washington, D.C. He focuses his practice on state and federal bank regulatory issues and advises bank and non-bank clients regarding Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance. He also represents bank […]
Avoiding Pitfalls During Post-Pandemic Government Investigations
As the country begins to emerge from the COVID-19 pandemic and the U.S. economy gets back on track, banks nationwide should expect their activities to come under government scrutiny. The impacts of the coronavirus have touched every corner of the banking industry as institutions have striven to meet the evolving needs of their customers, continue […]