News Topic: HMDA

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A new report from California shows that less-regulated mortgage lenders may be doing a better than banks of serving Black and Latino homebuyers. But consumer advocates say the data bolsters the case for tougher supervision of nonbanks. ... Read full article

The agency found a 40% error rate in the 2016 data submitted by the Seattle bank. In addition to the fine, the institution is required to improve its compliance systems. ... Read full article

Net worth disparities and the role housing and mortgage discrimination play in Black homeownership show that it's impossible to close the gaps without eliminating racism. ... Read full article

The agency’s report on mortgage data submitted by lenders identified persistent disparities between white borrowers and minorities in denial rates and pricing. Some observers say the bureau should have been more explicit as the nation wrestles with ... Read full article

The agency finally detailed how it may implement congressional requirements to collect information on credit to small businesses. Lenders below certain asset thresholds and that make few business loans could be off the hook. ... Read full article

The bureau will detail how it will implement a Dodd-Frank Act provision requiring the agency to collect information on small-business lending in order to identify discrimination. ... Read full article

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

The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit. ... Read full article

The move is part of an effort by CFPB Director Kathy Kraninger to help smaller lenders by significantly raising loan thresholds for collecting and reporting mortgage data. ... Read full article

The agency is still moving forward on key regulations dealing with payday lending and mortgage underwriting despite new demands posed by the crisis. ... Read full article

Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.” ... Read full article

The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship. ... Read full article

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic. ... Read full article

After dragging its feet, the agency has agreed to a court-supervised process for writing a Dodd-Frank-mandated rule aimed at stamping out discrimination. ... Read full article

Readers cast doubts on regulatory attempts to jointly revamp the Community Reinvestment Act, react to Democrats berating the CFPB head, an upcoming House hearing with Facebook's CEO and more. ... Read full article

Institutions that offer fewer than 500 open-end lines of credit will get another two-year exemption from reporting requirements under the Home Mortgage Disclosure Act. ... Read full article

Banks need to mitigate potential bias in algorithmic predictive models using artificial intelligence, as regulators are weighing how to oversee the emerging technology. ... Read full article