The Illinois Community Reinvestment Act is modeled off the Community Reinvestment Act, but expands its scope of covered financial institutions to include credit unions and licensed entities.
The company previously contracted to collect debt from consumers on behalf of unlicensed lending entities associated with Native American tribes, or Tribal Lending Entities (TLEs).
An investigation into the bank’s practices determined that the New York branch lacked any formal policies or training on confidential supervisory information (CSI).