Rep. Maxine Waters, D-CA, introduced a bill this month to vastly expand how much data financial institutions report to receive their Community Reinvestment Act ratings. The bill would mandate negative rating credit for any known discriminatory behavior.
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.
The CFPB said it would no longer tolerate nursing homes requiring caretakers to take on a prospective nursing home resident’s costs of care as a condition of admission.
A maneuver involving Rohit Chopra and the Federal Deposit Insurance Corp. board in December 2021 was allowable under FDIC bylaws, according to an opinion published by the DOJ’s Office of Legal Counsel.
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