The Department of Housing and Urban Development said it's charging Facebook with allegedly violating the Fair Housing Act by restricting who can view housing-related ads.
What the FIS-Worldpay deal means for banks; behind the OCC's public rebuke of Wells Fargo; ripple effect feared as Fed mulls lifetime bans for two bankers; and more from this week's most-read stories.
The Supreme Court upheld using “disparate impact” over three years ago. But with HUD weighing a policy change, banks and advocacy groups are still at odds over the court decision.
A new law exempts small lenders from expanded mortgage data reporting, but regulators are signaling that banks no longer have to collect the data either.
The banking industry lost a key battle in the Supreme Court over the use of “disparate impact,” but legal observers see potential for the tide to turn if Judge Brett Kavanaugh is confirmed.
A more conservative court will be likelier to rule favorably on issues ranging from the deference for regulatory agencies to what constitutes a fair-lending violation.
Courts have validated the legal theory behind punishing lenders for unintentional discrimination, but the Trump administration has shown interest in revising the Obama-era policy.
