General World News

Townstone wins order to dismiss CFPB’s redlining lawsuit 

A federal judge in Illinois ruled in favor of Townstone Financial Inc. and its owner, Barry Sturner, on a motion to dismiss with prejudice a redlining lawsuit filed by the Consumer Financial Protection Bureau (CFPB). 

In July 2020, the CFPB filed a lawsuit accusing the nonbank retail lender of discouraging prospective African American borrowers in the Chicago metropolitan area from applying for mortgages. 

Townstone filed the motion to dismiss in October 2020, which was granted on Friday by Judge Franklin U. Valderrama in the U.S. District Court for the Northern District of Illinois, Eastern details ⇒

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