The rulemaking process will help make current policy more durable, reducing the likelihood future administrations reverse existing fair housing regulation.
Since the passage of the Equal Credit Opportunity Act and the Fair Housing Act, financial services providers have tried to “achieve fairness through blindness,” according to Kareem Saleh, CEO of disparity-analysis firm FairPlay.
The new rule changes the definition of "colonia" and "rural area" to ensure more of these impoverished, predominantly Latino communities are covered under the regulation.
The FTC filed a motion for a temporary restraining order and a preliminary injunction to halt the proposed acquisition of Black Knight by Intercontinental Exchange.