The NCLC is asking the bureau to pursue rulemaking to apply the Equal Credit Opportunity Act’s adverse action requirement to renters and ban the use of medical debt in tenant screening decisions.

Experts recommend industry stakeholders start working with the new credit scores if they want to be prepared when the transition from FICO Classic to FICO 10 T and VantageScore 4.0 goes into effect.

The Seventh Circuit Court decision in CFPB v. Townstone Financial could broaden the scope of the Equal Credit Opportunity Act.

In a major victory for the CFPB, the appeals court decision reverses a prior ruling by a district court, reinstating the ECOA lawsuit.

The case is still pending a final decision, after an appeals court overturned a district court's dismissal of the lawsuit.

The bureau completed 28 fair lending examinations or reviews on banks and nonbanks in 2023, among other activities.

FHFA and the Mortgage Bankers Association have asked legislators to exempt Fannie Mae and Freddie Mac from new laws governing the use of automated underwriting systems and other artificial intelligence tools.

Changes to the state’s Community Reinvestment Act would further protect against discriminatory appraisals, according to the CFPB.

During an event hosted by the National Fair Housing Training Academy Forum, mortgage lenders were briefed on ways to help decrease discrimination and diversify their businesses.

The new disclosures on compliance findings from bank exams in 2022 include the nature of the violations, mistakes and risk mitigants.