BankThink

CEO Solomon says there are challenges but a good chance it can meet its goal; Chase Home Lending will expand a program that provides $5,000 for closing costs and down payments in majority-Black neighborhoods.

In its final days, the Trump administration imposed limits on Fannie Mae and Freddie Mac’s holdings of mortgages with loan-to-value ratios above 90% and certain other characteristics. Critics say the changes were unnecessary and disproportionately penalize borrowers of color.

A longtime fixture in the industry, Teresa Freeborn succeeds GWLN founder Susan Mitchell as chair of the group.

The agency's new leadership, which has already unwound numerous actions from the prior administration, said the January 2020 guidance implementing criteria for punishing firms that mistreat customers was “inconsistent with the bureau’s duty to enforce Congress’s standard.”

Nellie Liang, President Biden's pick to serve as the Treasury's undersecretary for domestic finance, didn't wait to be nominated before beginning the task of strengthening Wall Street oversight.