The bill would impose a Community Reinvestment Act-like framework for evaluating the performance of financial institutions in meeting the needs of the communities they serve.

The New York Department of Financial Services wants the CFPB to share with state regulators the data it plans to collect on small-business loans. The NYDFS also wants the final rule to extend coverage to include all minority- and women-owned businesses.

While both industry and consumer groups generally support the proposed rule’s objectives, they want the CFPB to reconsider some definitions and reporting of certain discretionary data points.

A new Urban Institute report shows that owner-occupied purchase lending in predominantly minority areas, especially by banks, was disproportionately low. The same was true for loans to minority borrowers.

CFPB Director Rohit Chopra was open to feedback on the topic in his congressional hearings. Reactions to the rule have been mixed.

In congressional hearings, CFPB Director Rohit Chopra doubled down on his concerns about “algorithmic redlining,” indicating that lenders can expect more robust enforcement on the practice.

The CFPB under Rohit Chopra is expected to be much more aggressive regarding fair lending and fair servicing than under his predecessors.

The CFPB has made it clear that it’s not buying income share agreement providers’ argument that their products are not loans and hence they don’t have to comply with consumer protection laws.

The state regulator is taking notice of disparities in mortgage approvals and denials and terms of mortgage credit between same-sex and opposite-sex pairs.

More than 10 years after a mandate in the Dodd-Frank Act, the CFPB proposed data collection requirements for small business lending. The proposal could impact around 5,000 lenders.