Items Tagged with 'fair lending'


  • Democrats call out Mulvaney’s reported changes to CFPB fair lending enforcement

    53 Democrats, including Warren, Waters, Brown, Menendez, want answers
    A group of more than 50 Congressional Democrats are questioning the motivation of Consumer Financial Protection Bureau Acting Director Mick Mulvaney’s reported decision to strip the agency’s Office of Fair Lending and Equal Opportunity of its enforcement powers. The Democrats want to know what exactly Mulvaney is planning to do when it comes to fair lending.
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  • Did Mick Mulvaney just drastically change how the CFPB enforces fair lending laws?

    Reportedly strips Office of Fair Lending of its enforcement powers
    The way the CFPB enforces fair lending laws could be about to significantly change after CFPB Acting Director Mick Mulvaney reportedly stripped the bureau’s Office of Fair Lending of its enforcement powers. Former CFPB Director Richard Cordray, Sen. Elizabeth Warren, and fair housing groups bemoaned the move.
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  • Your top 10 HMDA questions answered: Part 10

    How should LOS providers differentiate to help lenders today?
    The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. In this 10th and final part of the series, experts discuss how LOS providers should differentiate to help lenders today.
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  • Your top 10 HMDA questions answered: Part 9

    What should be keeping a lender awake at night now?
    The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. And as the January 1 deadline moves closer, experts explain what final challenges should be keeping lenders awake at night.
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  • Your top 10 HMDA questions answered: Part 3

    What do the recent amendments and publications to HMDA mean for a lender?
    The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. In part three of this 10-part series, experts explain what the new HMDA amendments mean for lenders, and what they need to do to prepare.
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  • Mortgage bankers, trade groups want meeting with Sessions over DOJ’s fair lending enforcement

    Ask attorney general to review Trump administration’s tactics
    Several of the largest trade organizations in banking want to meet with Attorney General Jeff Sessions to discuss how the Trump administration’s approach to fair lending laws and if the current administration plans to enforce those laws any differently than the previous administration did.
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  • Attention lenders: The CFPB is now focusing more on fair lending in mortgages

    A look at where the CFPB will increase its fair lending oversight this year
    After looking back at its fair lending priorities for 2016, the Consumer Financial Protection Bureau highlighted which areas will be top priorities for 2017. So what’s at the top of the list? Mortgages. The bureau explains where it is ramping up its efforts in its latest annual Fair Lending report.
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  • California lenders reach settlement with HUD over unfair lending charge

    American Financial Network to pay Hispanic man $5,000
    A Hispanic man filed a fair housing complaint against several California lenders. Now, these lenders have agreed to pay the man as well as install new fair lending training programs for their staff. HUD explained that today’s action "reflects our nation’s promise of fair housing and equal access to credit for every qualified individual, regardless of their national origin."
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  • Wells Fargo fails fair lending test due to "discriminatory and illegal" credit practices

    Bank’s Community Reinvestment Act rating lowered to "Needs to Improve"
    Late last year, as the fallout from the fake account scandal at Wells Fargo was still in full force, rumors began to circulate that the bank could be facing another regulatory smackdown due to reportedly failing to meet its requirements under the Community Reinvestment Act. And Tuesday, the other shoe dropped, as the bank disclosed that it did indeed fail to meet its CRA requirements.
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  • HUD sanctions Illinois' Alpine Bank & Trust over fair lending violations

    Accused of discriminatory lending against minorities

    The Department of Housing and Urban Development announced Friday that Alpine Bank & Trust is being sanctioned over fair lending violations. The charges stemmed from a complaint filed by the HOPE Fair Housing Center of Wheaton, Illinois, which filed a complaint with HUD claiming that the lender’s business service areas excluded majority African-American and Hispanic neighborhoods.

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