Democratic lawmakers argue that Paul Watkins' former employment at a "homophobic hate group" makes him unfit to lead the agency's innovation office. Watkins says he did no advocacy work for that organization.
The watchdog and three Democratic lawmakers urged the agencies to stop using knowledge-based verification methods to grant access to their online portals.
Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers.
At a time when costs continue to soar and regulators weigh reforms for Fannie Mae and Freddie Mac, more than half of the Democratic presidential candidates have talked about housing on the campaign trail.
As evidenced by a Senate hearing, Republican and Democratic lawmakers still live in alternative universes when it comes to financial regulatory policy.
The Massachusetts Democrat said the agency could have used existing statutory authority to object to the bank’s appointment of now-departed CEO Tim Sloan.
