The National Community Reinvestment Coalition criticised the growing practice among lenders of not collecting race and ethnicity data under HMDA, saying 23% of listed loans now lack the information.
Researchers have found that as nonbank mortgage lenders increase their market share in a county, the frequency of mortgage-related complaints filed with the CFPB decreases.
The CFPB said the company hadn’t met any of its self-imposed deadlines to provide information regarding how it handles consumer disputes. Block operates popular peer-to-peer payments service Cash App.
Attorneys for law firm Garris Horn said lenders should take certain steps to protect themselves against redlining accusations by regulators, recommending lenders virtue signal more often.
The two trade groups want the California Privacy Protection Agency to clarify what behaviors are prohibited under its proposed data privacy and security rules.
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