Readers react to regulators revamping the Volcker Rule and the U.S. Postal Service getting into banking, criticize HUD's plan to make it harder for consumers to allege discrimination and more.
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.
The Federal Housing Administration updated its lender certification proposal originally issued this past May, as it looks to ease industry concerns on False Claims Act enforcement.
The Department of Housing and Urban Development will remove some barriers to government-insured condominium lending next month, including a post-crisis measure housing industry groups have long pressed for a change to.
Banks need to mitigate potential bias in algorithmic predictive models using artificial intelligence, as regulators are weighing how to oversee the emerging technology.
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.
The Department of Housing and Urban Development approved a settlement in favor of the California Reinvestment Coalition against CIT Group's OneWest Bank, which was run by Steven Mnuchin prior to him becoming Treasury secretary.
