News Topic: Race discrimination

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

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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

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. ... Read full article

The company intentionally submitted inaccurate borrower information overstating the number of white applicants, the consumer bureau alleges in a consent order. ... Read full article

The agency's spring rulemaking agenda includes the process for collecting small-business data as well as underwriting rules for GSE-backed loans. But what's missing from the list may be just as important. ... Read full article

Eric Blankenstein, the CFPB's policy director for supervision, enforcement and fair lending, has been criticized for using a racial slur in blog posts 15 years ago and claiming the majority of hate crimes were hoaxes. ... Read full article

A discussion on how to modernize policies to combat housing discrimination quickly turned into a sharp critique of the social media giant's advertising practices. ... Read full article

Banks will likely continue to exercise caution in the wake of Facebook's announcement that it’s restricting the way providers of housing, employment and credit advertise on its site. ... Read full article

The bill would require at least one gender diverse and one racially or ethnically diverse candidate to be interviewed for Fed regional bank president vacancies. ... Read full article

A Financial Services subcommittee planned by Democrats to root out discrimination and expand financial inclusion could put banks on the hot seat, but it could also foster regulatory relief. ... Read full article

Minorities are still charged more for mortgages when all other applicable credit factors are equal — both in-person and online, according to a new study by the University of California, Berkeley. ... Read full article

While JPM won't by the first to offer tap to pay, others may follow; cryptocurrency drops to lowest level of the year. ... Read full article