News Topic: Race discrimination

CFPB Director Kathy Kraninger promised to complete the rule mandated by Dodd-Frank one day after a California court set a process for doing so. ... 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

Elizabeth Warren, Sherrod Brown and three other Democrats asked nonbank lenders to ensure they comply with fair lending laws following a report suggesting they charge higher rates to those who have attended historically black or predominantly Hispanic ... Read full article

The agency issued a fair housing proposal last month that would perpetuate segregation and make it harder to detect discrimination. ... Read full article

New legislation in Congress seeks to do away with a data-collection mandate that addressed discrimination in business lending. The repeal measure has the support of two bank industry groups based in Washington. ... Read full article

The Department of Housing and Urban Development has proposed an overhaul of an Obama-era rule meant to guide local jurisdictions in how they comply with the Fair Housing Act. ... Read full article

Financial institutions should fully disclose their board composition to begin tackling diversity problems at the top. ... Read full article

The bank could pay about $2 billion to close the 1MDB case in the U.S.; in letters lawmakers ask Dimon about policies to combat racism. ... Read full article

The two Democrats sent a letter “raising grave concerns about whether the bureau is fulfilling its statutory obligations.” ... Read full article

Despite assurances by Director Kathy Kraninger that the agency is cracking down on discrimination, the agency has not filed an enforcement action or sent a Department of Justice referral on a fair-lending violation in two years. ... Read full article

The bank joins rivals in predicting a better than expected Q4; JPM exec says AI could help create products for savings. ... Read full article

JPM’s CFO says trading, investment banking revenue better than expected; the bank will pay $192 million to settle charges it helped customers hide assets. ... Read full article

House Democrats described the disparate impact standard as "the most important tool" for enforcing the Fair Housing Act. ... Read full article

The CFPB has promised an equal-access rule for small-business lending for nearly a decade. But Apple’s recent discrimination inquiry into its credit card could force the agency’s hand. ... Read full article

Eric Blankenstein, who resigned from the Consumer Financial Protection Bureau in May after the discovery of his racially charged writings, was named acting executive vice president of Ginnie Mae. ... 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

When she was growing up, Thasunda Duckett's family used crates as furniture and struggled to buy groceries. Now she's become one of JPMorgan Chase's most visible executives, using the lessons of her past to help guide the company's ... Read full article

Readers react to the Trump administration's release of a housing finance reform plan, a proposal by HUD to redefine "disparate impact," and challenger bank claims they can end bank fees for good. ... Read full article