A joint statement from the Consumer Financial Protection Bureau and Department of Justice said some uses of immigration status in credit decisioning may be prohibited by the Equal Credit Opportunity Act.
There is still no firm release date on FHFA’s once-in-a-hundred-year review of the Federal Home Loan Bank system. The report was supposed to come out by the end of September.
The Supreme Court heard oral arguments this week in a case challenging the constitutionality of the CFPB’s funding structure. Analysts say the bureau has a good chance of prevailing.
Trade groups representing large banks and mortgage lenders warn that a July proposal to increase capital requirements for large banks could push depositories further from the mortgage market.