The company intentionally submitted inaccurate borrower information overstating the number of white applicants, the consumer bureau alleges in a consent order.
With the Trump administration appearing willing to shake up Fannie Mae and Freddie Mac without Congress, Reps. Lacy Clay, D-Mo., and Sean Duffy, R-Wis., said legislative action should be a priority.
The Consumer Financial Protection Bureau proposed steps to ease Home Mortgage Disclosure Act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.
The Consumer Financial Protection Bureau issued guidance late Friday that will shield some new mortgage data from the public that lenders are required to report.
Any serious discussion of how best to update the Community Reinvestment Act for the 21st century must focus on strengthening the law, not eliminating it.
A new analysis of mortgage data demonstrates how default rates, not just approval and decline rates, can be used to evaluate findings of unfair treatment in lending.
The Consumer Financial Protection Bureau issued an interpretive rule Friday to clarify changes made to the Home Mortgage Disclosure Act that were mandated by President Trump's regulatory relief law.
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.
