Illinois District Court Judge Elaine Bucklo found that the plaintiff had no evidence that Bank of America had engaged in an equity-stripping scheme, much less one that targeted minority borrowers.

Auto lending practices under scrutiny; fair lending testing bill; CBA wants CFPB to examine small fintechs; court grants interlocutory review of NCSLT-CFPB decision; EFTA compliance bulletin; interagency letter on unmet credit needs; comment on FTC settlement; PSLF waivers.

The Urban Institute found most property auction sales are to mom-and-pop investors, while most owner-occupants who buy use cash.

The servicer will pay $1.5 million to settle a class action alleging it recorded phone conversations with mortgagors without their consent.

CRA trouble ahead? OCC chief Hsu: “Home mortgage lending is dominated by a few banks and nonbank institutions lending nationwide"...

Acting Comptroller of the Currency Michael Hsu said the OCC will continue to ensure banks are not used as a vehicle for "rent-a-charter" arrangements.

Acting Comptroller of the Currency Michael Hsu believes updated CRA standards should reflect changes in the business of banking, particularly the increased use of mobile and internet delivery channels.

Mortgage banking firms were the largest part of the sample with 104 institutions.

Among other requests, the trade group wants the bureau to exempt smaller nonbanks from exams or audits...

Smaller nonbanks don’t have the economies of scale to monitor how the CFPB might deviate from state interpretations of federal consumer mortgage rules and regulations, the Community Home Lenders Association said in a letter to the CFPB.