The CFPB’s efforts to combat redlining include a new emphasis on discriminatory targeting. The regulator’s argument for the application of ECOA in instances of reverse redlining is being questioned.

The CFPB and three other federal agencies issued a statement highlighting concerns about bias in automated systems. The CFPB is particularly concerned about home valuations, lending and marketing.

New APOR calculations; regulators help with LIBOR transition; CFPB puts credit reporting agencies on alert; data breach involving former CFPB employee; lender settles with Arizona AG.

The federal agency found instances of illegal mortgage loan referrals and redlining during supervisory examinations of financial institutions.

The policy statement outlining prohibition on abusive acts and practices subjectively expands the bureau’s authority and could impact conduct permitted by safe harbors in federal consumer protection laws, according to industry attorneys.

Rep. Patrick McHenry, R-NC, has threatened to use the Congressional Review Act to prevent implementation of the CFPB’s new reporting requirements on small business lending.

The Equal Credit Opportunity Act includes an affirmative obligation to continually search for whether any adverse impacts from a model can be mitigated by a less discriminatory alternative.

The proposal is an attempt by the CFPB to circumvent the limits of its authority with respect to arbitration agreements, said trade groups.

CFPB Director Rohit Chopra said a push in 2018 to reduce regulations on banks contributed to the collapse of Silicon Valley Bank.

CFPB Director Rohit Chopra engaged in a live question-and-answer session last month, acknowledging banks’ concerns about nonbank coverage and liability flows.