The DOJ alleged that First National Bank of Pennsylvania continued a practice seen at Yadkin Bank of focusing mortgage lending disproportionately on white areas of Charlotte and Winston-Salem.
The National Community Reinvestment Coalition accused banks of hypocrisy for filing a lawsuit against new standards under the Community Reinvestment Act.
“While pausing foreclosures for these men and women was a step in the right direction, our veterans and servicemembers need to be able to bring their mortgage current while VA works on its long-term solution,” said Sen. Jon Tester, D-MT, chair of the Senate Veterans Affairs Committee.
The MBA is taking its concerns about rising costs for obtaining credit scores to the Federal Housing Finance Agency, the Consumer Financial Protection Bureau and the Federal Trade Commission, among other entities.
At the direction of the Federal Housing Finance Agency, Fannie Mae and Freddie Mac are reformulating their Social Index to make it more attractive to investors while still protecting the privacy of borrowers.