News Topic: Redlining

The senator’s bill to reform the 40-year-old law and expand housing investments could gain clout as Democrats look to pick up congressional seats and she eyes a presidential run. ... Read full article

The agency wants more information as it conducts fair-lending exams, but conflicting statutes make writing a data collection rule difficult. ... Read full article

The Consumer Financial Protection Bureau issued an interpretive rule Friday to clarify changes made to the Home Mortgage Disclosure Act that were mandated by President Trump's regulatory relief law. ... Read full article

The Office of the Comptroller of the Currency’s questions for the public to comment on the decades-old law could illuminate a path forward as regulators struggle to agree on an updated policy. ... Read full article

The Supreme Court upheld using “disparate impact” over three years ago. But with HUD weighing a policy change, banks and advocacy groups are still at odds over the court decision. ... Read full article

The Trump administration has argued that the Affirmatively Furthering Fair Housing rule, issued in 2015, was too prescriptive. ... Read full article

The banking industry lost a key battle in the Supreme Court over the use of “disparate impact,” but legal observers see potential for the tide to turn if Judge Brett Kavanaugh is confirmed. ... Read full article

Courts have validated the legal theory behind punishing lenders for unintentional discrimination, but the Trump administration has shown interest in revising the Obama-era policy. ... Read full article

The Community Reinvestment Act needs to be updated, but in doing so Congress should remember why the law was created in the first place, argues Rep. Gregory Meeks. ... Read full article

Rep. Cedric Richmond, D-La., the CBC's chair, requested with a meeting with the comptroller of the currency to "enlighten" him about discrimination in banking. ... Read full article

After a long battle with the Justice Department over redlining charges, KleinBank caved as legal costs soared. ... Read full article

Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders. ... Read full article

A bill passed by the House would raise the threshold that allows smaller banks and credit unions to avoid expanded Home Mortgage Disclosure Act requirements imposed by a 2015 rule. ... Read full article

Alternative data can be beneficial for individuals locked out of the financial system’s more conventional data types, but such data is open to manipulation or biased interpretation. ... Read full article

In a new book, Mehrsa Baradaran argues that the same forces of poverty that African-American banks were supposed to alleviate are now holding them back. ... Read full article

The credit card issuer paid $95 million to settle charges it offered inferior terms to customers in American territories; Mitsubishi UFJ wants to become a top 10 U.S. bank. ... Read full article

Efforts to repeal a Dodd-Frank mandate for lenders to report data on small-business applicants — including race and ethnicity — overlooks the benefits of the provision to both communities of color and banks. ... Read full article

The promise of fintech is that it might offer underbanked consumers access to financial products. But some are worried that relying on algorithms to make credit decisions could open up problems of its own. ... Read full article