News Topic: Redlining

While the resolution sends a message of disapproval of the OCC’s reform of the anti-redlining law, the Republican-controlled Senate is not expected to consider the measure. ... Read full article

As governments explore whether to compensate African Americans for centuries of racism, financial institutions need to do their part to redress victims of persistent redlining. ... 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 city's decision to drop a lawsuit alleging predatory ending by Wells Fargo, JPMorgan Chase, Bank of America and Citigroup highlights the challenges municipalities face in taking on deep-pocketed financial institutions. ... 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

Without admitting wrongdoing, the bank has agreed to contribute $10 million to city programs promoting home ownership for low- and moderate-income residents. ... Read full article

More than 50 banks and banking groups responded to the National Credit Union Administration's call for public comment as it attempts to explain why a new field of membership provision won't permit redlining. ... Read full article

The banking industry could finally have answers soon on the degree of agreement between regulators reforming the Community Reinvestment Act, how they envision CRA zones of the future and other key matters. ... 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 National Credit Union Administration has unveiled a proposal to address a federal judge's concerns that its 2016 field-of-membership overhaul could discourage lending in low-income areas. ... 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

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

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

The little-known unit was launched in the wake of efforts by the CFPB and HUD to cut back on fair-lending activities, but the reach of the 10-month-old office is still unclear. ... Read full article

While NCUA lawyers fielded questions about the possibility of redlining, a three-judge appeals panel showed skepticism about other elements of the ABA's arguments against changes to credit union membership rules ... Read full article

The Office of the Comptroller of the Currency advanced the ball last year by collecting public feedback on modernizing the law, but all three federal bank regulators will have to reach consensus on a formal proposal. ... Read full article

The Massachusetts senator and critic of Trump administration policies sent the new CFPB director an expansive list of to-do items for her first month on the job. ... Read full article