News Topic: Fair Housing Act
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CFPB eyes discrimination in tenant screening
Deal for Lakeland Bank has an issue lurking beneath the surface
Trident Mortgage slapped with $24.4 million redlining fine
Cadence Bank warned on fair lending, in settlement talks with DOJ
FHFA Releases Policy Statement On Fair Lending
On July 1, the Federal Housing Finance Agency (FHFA) released a Policy Statement on its commitment to comprehensive fair lending oversight of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (collectively, “regulated entities”). The FHFA ... Read full article
HUD proposes reinstating Obama-era fair-lending rule
HUD restores Obama-era fair housing rule while pledging to improve it
Biden administration to reinstate fair housing rules vacated by Trump
Acting CFPB chief signals tougher stance against redlining
After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes. ... Read full article
Biden calls on HUD to examine Trump-era changes to fair housing rules
The president’s executive action looks to assess the impact of the previous administration's alterations to the Affirmatively Furthering Fair Housing and Disparate Impact rules, while reinforcing Biden’s vow to eliminate discriminatory lending ... Read full article
Will CFPB's QM proposal create new housing bubble?
The Consumer Financial Protection Bureau's overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy credit and higher defaults and could disproportionately harm minorities. ... Read full article
HUD’s disparate impact rule is a ‘get out of jail free’ card
The bar to prove discriminatory patterns is so high that plaintiffs would have slim odds of winning lawsuits against housing providers. ... Read full article
Lawmakers want inquiry into report that OCC halted redlining probes
Senate Democrats asked a watchdog to examine whether the bank regulator failed to investigate claims of discrimination against at least six banks. ... Read full article
BofA settles federal fair housing discrimination claim for $300K
Due to possible exploitation, Bank of America instituted a policy that limited loans to persons in guardianships, but later ended that policy. ... Read full article
Trump rolls back fair housing rule with executive order
The Trump administration's executive order to terminate and replace federal enforcement of anti-discrimination policies at the local level, citing the burden it put on municipalities, enraged advocates of equitable housing practices. ... Read full article
Trump’s attempt to weaken fair housing rules is beyond tone deaf
The White House's efforts to loosen equality requirements in lending run counter to the widespread demand for racial justice. Congress must act. ... Read full article
Bankers need to walk the walk on equality
The global protests in the wake of George Floyd’s death should serve as a reminder that the banking industry must do more to support minority employees and customers. ... Read full article
Don’t ditch disparate impact
Attempts to rewrite the method for determining unintended discrimination in housing should not bleed into fair-lending laws. ... Read full article
Big banks outlast city of Miami in long legal battle
The city's decision to drop a lawsuit alleging predatory ending by Wells Fargo, JPMorgan Chase, Bank of America and Citigroup highlights the challenges municipalities face in taking on deep-pocketed financial institutions. ... Read full article