Warren W. Traiger
Senior Counsel
Biography
Warren W. Traiger has developed a nationally recognized reputation on consumer compliance matters with a focus on Community Reinvestment Act (CRA) and fair and responsible banking issues. He has played a leading role in formulating the banking industry’s position on CRA modernization, coordinating and preparing the responses of leading national trade associations and several banks to the proposed federal inter-agency rulemaking. As Senior Counsel in the New York office of Buckley LLP, he advises clients on responding to allegations of discriminatory or unfair lending practices, including redlining and reverse redlining, and assists clients to design and implement appropriate preventative and detective controls to help avoid such claims.
Mr. Traiger argued before the U.S. Court of Appeals for the Second Circuit in Lee v. Board of Governors, a benchmark case regarding the rights of community organizations to challenge Federal Reserve Board (FRB) determinations on merger applications. He has testified before Congress and the federal banking agencies on fair lending and CRA reform, served as Special Counsel to the New York banking regulator on CRA, and advised the regulator on predatory lending regulation.
Mr. Traiger regularly assists banks and bank holding companies prepare the community convenience and needs portion of their regulatory applications to merge or acquire and helps clients respond to public comment regarding CRA and fair lending compliance. He represented a bank in its acquisition and integration of the finance arm of major automaker, directing pre-acquisition fair lending due diligence and updating the combined entity’s policies, procedures, and regulatory relations strategy. Mr. Traiger also served as an independent consultant for the New York Attorney General, overseeing compliance with that office’s settlement with a company that provides criminal background checks on prospective employees.
A prolific writer and researcher, Mr. Traiger’s research and statistical analysis of mortgage lending data has been cited in publications of the Federal Reserve Banks of San Francisco, Boston, and Dallas, the Federal Deposit Insurance Corporation (FDIC), and in testimony before the U.S. House Financial Services Committee.
Prior to joining Buckley, Mr. Traiger was Co-Chairman of Traiger & Hinckley LLP. Prior to entering private practice in 1990, Mr. Traiger was Vice President, Counsel and Director of Government Relations for the New York Bankers Association, the trade group for New York commercial banks. He has also served as Director of Legislation and Research and Special Counsel for the New York City Department of Consumer Affairs and as a New York State Consumer Protection Board official.
Mr. Traiger is entrenched in the New York legal and financial services community. He has served on the Banking Law Committee of the New York State Bar Association, as a member of the Banking Law and Consumer Law Committees of the Association of the Bar of the City of New York, and has taught as adjunct professor of Economics at Hunter College of the City University of New York. He received his J.D. from New York University and his B.A. from Cornell University (magna cum laude).
In The News
Warren W. Traiger quoted in American Banker article, “Judge reverses Trump-era HMDA rule, forcing small mortgage lenders to comply”
The American Banker article, “Judge reverses Trump-era HMDA rule, forcing small mortgage lenders to comply,” examines the reversal of a rule enacted by the CFPB that relieved thousands of lenders from reporting data on home mortgages that is used to enforce anti-discrimination laws. Chief District...
In The NewsWarren W. Traiger quoted in The Real Deal article, “Tug-of-war over anti-redlining law heads back to the drawing board”
Warren W. Traiger was quoted on October 11, 2021 in The Real Deal article, “Tug-of-war over anti-redlining law heads back to the drawing board,” which examined the uncertainty over the Office of the Comptroller of the Currency’s proposed changes to the Community Reinvestment Act in 2020 and how...
In The NewsWarren W. Traiger quoted in American Banker article, “CFPB missed opportunity to call out lending discrimination, critics say”
Warren W. Traiger was quoted on September 24, 2020 in an American Banker article, “CFPB missed opportunity to call out lending discrimination, critics say,” which discussed the Consumer Financial Protection Bureau’s recent analysis of the Home Mortgage Disclosure Act’s credit score data for racial...
In The NewsWarren W. Traiger quoted in American Banker article, “Fed plan to reform CRA at odds with OCC rule”
Warren W. Traiger was quoted on September 21, 2020 in an American Banker article, “Fed plan to reform CRA at odds with OCC rule,” which discussed the Federal Reserve’s advance notice of proposed rulemaking to the Community Reinvestment Act and how it differs from other regulators, such as the...
In The NewsWarren W. Traiger quoted in Wall Street Journal article, “Fed moves to overhaul lending rules for poorer communities”
Warren W. Traiger was quoted on September 21, 2020 in a Wall Street Journal article, “Fed moves to overhaul lending rules for poorer communities,” which discussed the Federal Reserve’s steps to rewrite rules for lending and investment in lower-income neighborhoods, and the criticism of the OCC’s...
In The NewsWarren W. Traiger quoted in Banking Dive article, “Community groups plan to sue OCC over CRA revamp”
Warren W. Traiger was quoted on May 26, 2020 in a Banking Dive article, “Community groups plan to sue OCC over CRA revamp,” regarding the Office of the Comptroller of the Currency’s CRA final rule, which has angered community groups that believe it would allow banks to lend less to lower-income...
In The NewsWarren W. Traiger quoted in American Banker article, “Regulators 'full steam ahead' on CRA reform despite coronavirus pandemic”
Warren W. Traiger was quoted on April 8, 2020 in an American Banker article, “Regulators 'full steam ahead' on CRA reform despite coronavirus pandemic,” which discussed the Office of the Comptroller of the Currency’s decision to continue with Community Reinvestment Act reform — and in particular,...
In The NewsWarren W. Traiger extensively quoted in Dodd Frank Update article, “CRA reform could take many shapes”
Warren W. Traiger was extensively quoted on January 28, 2020 in a Dodd Frank Update article, “CRA reform could take many shapes,” which discussed the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) decision to join together in publishing a notice of...
In The NewsWarren W. Traiger quoted in Wall Street Journal article, “Banks caught in regulators’ squabble over low-income loan rules”
“It is a little bit of a war between the regulators,” is how Warren W. Traiger described the situation when the Federal Reserve unveiled an alternative approach to a plan recently released by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp to overhaul rules for...
In The NewsWarren W. Traiger quoted in American Banker article, “Regulators' powerful incentive to fast-track CRA reform”
Warren W. Traiger was quoted on January 6, 2020 in an American Banker article, “Regulators' powerful incentive to fast-track CRA reform,” which discussed how the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. are seeking quick acceptance of their recommended changes...
In The NewsWarren W. Traiger quoted in Law360 article, “Regulators unveil overhaul of community lending rules”
Warren W. Traiger was quoted on December 12, 2019 in a Law360 article, “Regulators unveil overhaul of community lending rules,” which discussed the proposal released by the FDIC and OCC calling for changes to the Community Reinvestment Act. The article reported that the “proposal would establish a...
In The NewsWarren W. Traiger quoted in National Mortgage News article, “CFPB turns its reg relief focus to HMDA”
Warren W. Traiger was quoted on May 2, 2019 in a National Mortgage News article, “CFPB turns its reg relief focus to HMDA,” which discussed the Consumer Financial Protection Bureau’s steps to ease reporting requirements under the Home Mortgage Disclosure Act after the agency has previously...
In The NewsWarren W. Traiger quoted in American Banker article, “Relief from HMDA requirements may go further than banks realize”
Warren W. Traiger was quoted on August 2, 2018 in an American Banker article, “Relief from HMDA requirements may go further than banks realize,” which discussed the Home Mortgage Disclosure Act reform and the recent clarification from a FDIC official regarding data collection for small lenders. The...
In The NewsWarren W. Traiger quoted in American Banker article, “CFPB’s Mulvaney plots HMDA rollback, but it may not matter”
Warren Traiger was quoted on May 25, 2018 in an American Banker article, “CFPB’s Mulvaney plots HMDA rollback, but it may not matter,” which discussed acting director of the Consumer Financial Protection Bureau Mick Mulvaney's remarks to scale back Home Mortgage Disclosure Act requirements,...
In The NewsWarren W. Traiger quoted in Wall Street Journal article, “Shake-up considered on how banks lend to the poor”
Warren W. Traiger was quoted on April 27, 2018 in a Wall Street Journal article, “Shake-up considered on how banks lend to the poor,” which examined the suggested rule change by the Office of the Comptroller of the Currency that would encourage banks in certain locations to lend to the poor. The...
In The NewsWarren W. Traiger quoted in American Banker article, “Reg relief = cost savings, right? Not so fast”
Warren W. Traiger was quoted on March 28, 2018 in an American Banker article, “Reg relief = cost savings, right? Not so fast,” which discussed many banks’ hope of a reduction in compliance costs should the Senate pass a bill to reform provisions of the Dodd-Frank Act. The article stated, “The...
In The NewsWarren W. Traiger quoted in S&P Global article, “Speedy bank deal sparks questions on M&A regulatory approval process”
Warren W. Traiger was quoted on February 22, 2018 in an S&P Global article, “Speedy bank deal sparks questions on M&A regulatory approval process,” which discussed the curiosity throughout the banking industry regarding whether the timeline for closing a large M&A deal could shorten...
In The NewsWarren W. Traiger quoted in PYMNTS.com article, “Banks like the Trump regulatory regime”
Warren W. Traiger was quoted on February 21, 2018 in a PYMNTS.com article, “Banks like the Trump regulatory regime,” which discussed the Trump era being defined by the lack of regulation, and noted his administration’s efforts to scale back the power of Dodd-Frank and the current motion on a bill...
In The NewsWarren W. Traiger Quoted in American Banker Article, “Five Big Questions About Mulvaney-led CFPB”
Warren W. Traiger was quoted on November 29, 2017 in an American Banker article, “Five Big Questions About Mulvaney-led CFPB,” which discussed the potential changes that are anticipated to occur with Mick Mulvaney as interim director of the CFPB. The article stated, “Mulvaney, who is also the...
In The NewsWarren W. Traiger Quoted in SNL Article, “On 40th Anniversary, Community Reinvestment Act Faces Existential Crisis"
Warren W. Traiger was quoted on October 17, 2017 in an SNL article, “On 40 th Anniversary, Community Reinvestment Act Faces Existential Crisis," which discussed the CRA origins and the belief of industry experts’ that revision is needed. The article stated, “The Community Reinvestment Act, or CRA,...
In The NewsWarren W. Traiger Quoted in Bloomberg BNA Article, “OCC Signals Path to Relaxed Community Lending Ratings for Banks”
Warren W. Traiger was quoted on October 12, 2017 in a Bloomberg BNA article, “OCC Signals Path to Relaxed Community Lending Ratings for Banks,” which discussed an important policy shift following the OCC’s regulatory bulletin on CRA ratings that could help banks avoid downgrades. The article stated...
In The News
Publications
"OCC undermines own CRA rule by putting key metric on hold" by Warren W. Traiger (American Banker)
Critics of the Office of the Comptroller of the Currency’s new Community Reinvestment Act rule say it was rushed to completion, bypassing the interagency approach that once defined the rule. Left scattered in its place is a reform (from the OCC) and proposal ( from the Federal Reserve ), leaving...
Articles"CRA reform plan is suddenly outdated" by Warren W. Traiger (American Banker)
Bank regulators were in the process of reshaping a 43-year-old community lending law when the coronavirus pandemic hit, prompting calls from bankers and community advocates alike to suspend rulemaking and revealing how inflexible the proposal could be amid a crisis. Even absent current economic...
Articles"What commenters have to say about proposed CRA updates" by Warren W. Traiger (Law360)
Finally, almost a decade after announcing a joint effort to modernize the Community Reinvestment Act, the prudential regulators have signaled that revisions are in the offing. Over the last two months, representatives from the Office of the Comptroller of the Currency, Federal Deposit Insurance...
Articles"Banks looking for common ground on CRA modernization" by Warren W. Traiger (Banking Exchange)
Regulatory officials in recent days have taken what appear to be initial, tentative steps toward the daunting task of revising the Community Reinvestment Act: They are talking publicly about it. That is of no small significance, given that the conversation is fraught with some of the most complex,...
Articles"OCC Improves But Unlevels CRA Ratings" By Warren W. Traiger (Banking Exchange)
On Oct. 12, the Comptroller’s Office revised its Policies and Procedures Manual to instruct examiners to limit the number of Community Reinvestment Act rating downgrades based on evidence that a bank has violated other laws. The revision is a boon to national banks and federal savings associations...
ArticlesWarren W. Traiger Authored an American Banker Article, "Regulators' Silence on New HMDA Rule is Deafening"
As banks prepare to comply with a Consumer Financial Protection Bureau rule adding new reporting requirements under the Home Mortgage Disclosure Act, much attention has been paid to how expanded data points such as “interest rate” and “credit score” will affect fair-lending compliance. But the...
ArticlesIt's a New Dawn, New Day for HMDA Reporting
On Oct. 15, 2015, the Consumer Financial Protection Bureau (the CFPB or the Bureau) issued its long-awaited final rule amending and drastically expanding the mortgage loan application data reporting requirements under Regulation C and the Home Mortgage Disclosure Act (HMDA). Lenders that are...
ArticlesConsumer Financial Services Answer Book 2016
The fifth edition of the Practising Law Institute’s Consumer Financial Services Answer Book was published this month, with 29 Buckley Sandler attorneys contributing to this leading desk reference. The 2016 edition of the Consumer Financial Services Answer Book continues to provide practitioners...
ArticlesSpecial Alert: CFPB Adopts Significant Expansion of HMDA Requirements
On October 15, the Consumer Financial Protection Bureau (the CFPB or Bureau) issued a final rule that will expand the scope of the Home Mortgage Disclosure Act (HMDA) data reporting requirements while seeking to streamline certain existing requirements. Although some of the new data points the...
ArticlesThe CFPB's Proposed HMDA Rule: "Getting It Right" in Light of Major Changes to HDMA
The Consumer Financial Protection Bureau’s (the “Bureau” or the “CFPB”) proposed rule to amend Regulation C (the “HMDA Proposal”) to implement changes to the Home Mortgage Disclosure Act (“HMDA”) will drastically expand the amount of mortgage loan application data that lending institutions will be...
ArticlesHow to Move the CRA Into the 21st Century
Warren Traiger authored "How to Move the CRA Into the 21st Century," which appeared in American Banker on November 3, 2014. There's a disconnect in the banking agencies' approach to reforming the Community Reinvestment Act. On the one hand, the Federal Reserve, Office of the Comptroller of the...
ArticlesConsumer Financial Services Answer Book 2015
Buckley Sandler lawyers played a prominent role in the publication of this leading desk reference on consumer financial services, published by the Practising Law Institute. The 2015 edition of this publication continues to provide practitioners with a core understanding of the laws governing...
ArticlesBanks Should Steel Themselves for Fair Lending Game-Changer
Warren Traiger authored, "Banks Should Steel Themselves for Fair Lending Game-Changer" in American Banker on August 12, 2014. The Consumer Financial Protection Bureau's proposal to increase the categories of mortgage data collected and reported under the Home Mortgage Disclosure Act is, in the...
ArticlesThe CRA is Not a Fair Lending Law
The ongoing regulatory emphasis on enforcing the anti-discrimination provisions of the Equal Credit Opportunity Act and Fair Housing Act has had an unintended and counterproductive consequence. It is undermining the legislative rationale of the Community Reinvestment Act and threatening its...
ArticlesSpotlight on HDMA: Your Institution's Public HMDA Data and What to Do With It
In an annual rite of autumn, on September 18 the Federal Financial Institutions Examination Council released 2011 Home Mortgage Disclosure Act (HMDA) data for U.S. mortgage lenders. The public data contains information regarding nearly all home mortgage applications acted on in the prior calendar...
ArticlesYour Institution's Public HMDA Data and What to Do with It
After reviewing the HMDA data, Waren Traiger has highlighted some of the key fair lending-related findings and provided recommendations lenders should to better understand what their data shows. In an annual rite of autumn, on September 18 the Federal Financial Institutions Examination Council...
Articles
Education
- J.D., New York University, 1978
- B.A., Cornell University, 1975 (magna cum laude)
Admissions
- New York
Government Service
- Director of Legislation and Research and Special Counsel for the New York City Department of Consumer Affairs
- Senior Attorney at the New York State Consumer Protection Board