More than a dozen Democratic senators, led by Sen. Sherrod Brown, OH, have urged acting Comptroller Brian Brooks to confirm the OCC’s fair lending responsibilities.
The CFPB is facing legal challenges from fair lending advocacy groups over its Home Mortgage Disclosure Act final rule that raises reporting thresholds for mortgage lenders.
Borrowers faced with coronavirus-related financial difficulties are prioritizing auto and credit card payments over mortgage, according to Fitch Ratings.
Given the recent surge in new COVID-19 infections, now may be a good time to reassess location-based licensing requirements as well as state oversight, the trade group believes.
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