Industry trade groups said a separate role for the CFPB when it comes to reviewing bank mergers was unnecessary and would be outside of the bureau’s authority.

Monthly mortgage statements that contain language suggesting they are attempts to induce payment on a debt can be construed as a debt-related communication under the Fair Debt Collections Practices Act.

The fintech said the move was motivated by a need to keep its risk models accurate and due to changing priorities at the bureau.

Researchers looking at application denial rates and interest rates found that racial disparities exist for both Black and Hispanic borrowers even when controlling for various credit factors.

The defendant, a Baltimore-based bank, argued that the plaintiffs had no standing because they couldn’t prove the kickback scheme was tied to increased settlement costs.

Federal regulators recently elaborated on their goals behind last month’s interagency Community Reinvestment Act proposal, which some fair lending advocates believe is not going to advance racial equity.

Mortgage lenders and brokers who participated in a small business review panel convened by the CFPB support making AVMs more accurate but are concerned about downstream financial and business impacts.

The CFPB reiterated that the Equal Credit Opportunity Act requires creditors to provide consumers notice if they decide to take an adverse action, even if it’s based on a “black-box” credit model.

While affirming a district court ruling against CashCall, a three-judge panel of the Ninth Circuit Court of Appeals said the California-based lender’s behavior was reckless and justified higher penalties.

The appeals court found that an injunction against a former loan officer meant to enforce restrictive covenants was too vague, overbroad and improperly granted.