Race discrimination

Bankers set to deliver weak guidance; Tech funds looks to payment firms


The six biggest banks are expected to issue disappointing forecasts as rates continue to decline; technology stock mutual funds scored with payment plays.


HUD’s assault on fair lending


With its proposal to restrict disparate-impact claims, the Trump administration seems determined to solve a problem that does not exist.


HUD plan to alter anti-discrimination rule called 'deeply cynical'


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.


AI use carries bias risk for financial regulators


Agencies like Fincen and Finra that use machine learning must pay close attention to potential bias in supervisory algorithms, especially with data on women and minorities.


HUD plan would raise bar for claims of fair-lending abuse


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.


Former CFPB official 'may have abused his authority': Inspector general


Eric Blankenstein, now at HUD, is under fire for asking a subordinate to defend him after it was revealed he wrote racially charged blogs 14 years earlier.


House revives effort to allow nontraditional data in credit scores


The bill, similar to legislation that passed the chamber last year, would permit the inclusion of items such as rent and telecom payments to help consumers build their credit profiles.


Do lending algorithms discriminate? Congress seeks answers


After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better.


Former CFPB official criticized for blog posts joins Ginnie Mae


The mortgage agency has hired Eric Blankenstein, who sparked controversy while at the consumer bureau over past revelations of racially charged writings.


Buttigieg worries tech may add racial bias to credit decisions


Democratic presidential candidate Pete Buttigieg said the way credit scoring is done in the U.S. is fraught with inequality and he's worried the process may get worse with systems based on artificial intelligence.