News Topic: Redlining
Search Results
CFPB’s questions to banks suggest new frontiers in fair-lending scrutiny
New York expands CRA requirements to nonbank mortgage lenders
DOJ vows more redlining cases after Trustmark settlement
Fair-lending suit puts heat on Old National-First Midwest deal
Cadence Bancorp paying $8.5 million to settle redlining allegations
Fintechs seek CFPB guidance on making AI-based lending fair
How banking changed after the killing of George Floyd
CFPB 'racial equity' effort risks overreach
Acting CFPB chief signals tougher stance against redlining
After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes. ... Read full article
What to expect when you’re expecting divided government
President-elect Joe Biden will likely have to contend with a Republican-controlled Senate. That could have important implications for his approach to financial services policy. ... Read full article
Should consumer protection failures play a bigger role in CRA grades?
USAA Federal Savings Bank’s downgrade shows how customer mistreatment stemming from flaws in internal controls can hurt Community Reinvestment Act scores. Some want consumer compliance to carry more weight in the CRA calculus. ... Read full article
Senate fails to overturn OCC's CRA revamp
House Democrats had already approved a measure blocking the regulation reforming the Community Reinvestment Act, but the resolution faced more resistance in the upper chamber. ... Read full article
CFPB missed opportunity to call out lending discrimination, critics say
The agency’s report on mortgage data submitted by lenders identified persistent disparities between white borrowers and minorities in denial rates and pricing. Some observers say the bureau should have been more explicit as the nation wrestles with ... Read full article
CFPB extends comment period on overhaul of redlining law
The CFPB is giving stakeholders until Dec. 1 to file comments on a potential overhaul to its rules related to the Equal Credit Opportunity Act, which prohibits discrimination in credit and lending decisions. ... Read full article
Lawmakers want inquiry into report that OCC halted redlining probes
Senate Democrats asked a watchdog to examine whether the bank regulator failed to investigate claims of discrimination against at least six banks. ... Read full article
Banks, consumers groups to CFPB: Don’t rush overhaul of redlining law
The agency sought feedback on potential changes to the Equal Credit Opportunity Act. But a coalition of industry and advocacy groups want a longer comment period to afford “a greater opportunity for thoughtful public participation.” ... Read full article
Trump rolls back fair housing rule with executive order
The Trump administration's executive order to terminate and replace federal enforcement of anti-discrimination policies at the local level, citing the burden it put on municipalities, enraged advocates of equitable housing practices. ... Read full article
Big banks urge HUD to shelve redlining plan. Small banks say not so fast.
The national conversation around systemic racism has compelled large banks to withdraw support from the “disparate impact” proposal. But community banks maintain that the proposed reforms would reduce frivolous claims. ... Read full article
CFPB slaps Chicago mortgage lender with redlining lawsuit
The consumer agency alleges Townstone Financial's CEO and president made statements on a radio show discouraging applicants living in Black neighborhoods from seeking home loans. ... Read full article