Rep. Carolyn Maloney, D-N.Y., was finally declared the winner weeks after election day, while Rep. Lacy Clay of Missouri was defeated by a progressive challenger.
An effort by the Federal Housing Finance Agency to examine membership rules for the Federal Home Loan Bank System is reigniting an argument over whether to allow more nonbanks in or impose tougher barriers.
Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.
There's been chatter that investors are shying away from Fannie Mae and Freddie Mac mortgage-backed securities because Congress may not enact housing finance reform. Be skeptical of those claims.
Wisconsin Republican Sean Duffy routinely pushed to restructure the Consumer Financial Protection Bureau and authored a bill to reform the flood insurance program.
The agency says the "disparate impact" standard needs to be amended to align with a recent Supreme Court ruling. But consumer advocates say the change would make it more difficult for borrowers to allege discrimination under the Fair Housing Act.
Under a proposal yet to be officially unveiled, plaintiffs relying on the so-called “disparate impact” doctrine would have to show a more direct link between a lender’s policy and discriminatory effect.