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WHF/WHFF Partner Series: Townstone: A Complicated Look at Discrimination
Thursday, June 17, 2021, 12:00 PM - 1:00 PM EDT
Category: Events

WHF/WHFF Partner Series: Townstone: A Complicated Look at Discrimination

There is no debate that the effects of redlining are still felt today.  And that lenders increasingly are adopting programs and lending strategies designed to address the mistakes of the past and acknowledging persisting harm.

On July 15, 2020, the CFPB filed a lawsuit in federal district court in the Northern District of Illinois against Townstone Financial Inc. alleging redlining in violation of ECOA.  Townstone is a complicated case. It implicates ECOA, general rulemaking authority under consumer finance statutes, free speech and politics. 

Richard Horn, former CFPB attorney, and Sean Burke, counsels to Townstone, will discuss the nuances of the case and what other lenders can learn from the allegations and the CFPB’s perspective on fair lending claims.

Speakers: 

Richard Horn, Co-Manging Partner, Garris Horn LLP
Sean Burke, Founding Partner, Mattingly Burke Cohen & Biederman LLP 

Date: June 17, 2021 
Time: 12:00 - 1:00 pm ET
Location: Zoom Webinar (information will be emailed in your confirmation email)
Cost: Members: $5.00 suggested donation (no charge registration is available)  
         Non-Members: $10 donation 

 

Register Here



Speaker Bios

Richard Horn is a former Senior Counsel & Special Advisor in the Consumer Financial Protection Bureau’s Office of Regulations and a former Senior Attorney at the FDIC.  Richard is current Co-Managing Partner of Garris Horn LLP.

At the CFPB, Richard led the final rulemaking for the integrated disclosures under the Truth in Lending Act and the Real Estate Settlement Procedures Act (the TILA-RESPA Integrated Disclosure rule, also known as “TRID”). He also led the CFPB’s design of the integrated disclosures, as well as the qualitative and quantitative consumer testing of the disclosures. As a key architect of the TRID rulemaking, Richard is one of the foremost experts on the rule.

Prior to joining the CFPB, Richard was a senior attorney at the Federal Deposit Insurance Corporation (FDIC) in the New York Regional Office. At the FDIC, Richard worked on consumer compliance and risk management supervisory matters and enforcement actions. He worked on many regulatory issues including: TILA; RESPA (including marketing services agreements and joint ventures/affiliated business arrangements); UDAP; FCRA; GLBA; bank merger act applications; capital requirements and prompt corrective action; Community Reinvestment Act; and fair lending under ECOA and the Fair Housing Act.

Having led a major rulemaking at the CFPB, Richard understands the rulemaking process, the policy issues facing the CFPB, and can represent institutions dealing with the CFPB supervisory and enforcement process. Richard also has experience representing clients with state regulatory agencies in supervisory matters. Richard advises clients of all sizes, including banks, credit unions, non-bank mortgage lenders and brokers, title underwriters and agents, investors, and technology vendors on all state and federal regulatory compliance matters for consumer lending.

Richard graduated New York University School of Law (J.D., 2003), and Brown University (A.B., 2000).


Sean Burke is a Founding Partner of Mattingly Burke Cohen & Biederman LLP. Prior to starting MBCB, Sean was a litigation partner at Barnes & Thornburg LLP’s Indianapolis office where he worked from 2007 through 2014.  Before joining Barnes & Thornburg LLP, Sean practiced as commercial litigator at Sidley Austin LLP in Chicago from 2002 to 2007.

At both firms and in multiple jurisdictions, Sean handled a wide array of complex commercial and product disputes from pre-suit negotiation and investigation to judgment and through the appellate process.

 To name a few, Sean has represented: 

  • international medical products manufacturers in multi-million dollar product liability suits;
  • significant commercial clients in complex disputes involving allegations of fraud, breach of contract, theft of trade secrets, and product failures;
  • individuals and businesses in multi-million dollar insurance coverage disputes; and
  • property owners in environmental contamination matters.

 Sean has litigated:

  • putative class action claims brought against national credit card providers, international oil companies, and international manufacturers;
  • complex, high-profile construction disputes;
  • significant personal injury claims; and
  • alleged violations of non-compete agreements.

Sean is a graduate of the University of Illinois College of Law, where he served as a Symposium Editor for the Illinois Law Review.  He graduated sixth in his class and was recognized as a member of the Order of the Coif.