CSBS President Brandon Milhorn said the new data standard will help reduce mortgage lending compliance costs, giving companies the flexibility to make more loans.
America First Legal argued that Reg. C isn’t required under the Home Mortgage Disclosure Act and that it pressures mortgage lenders into making decisions based on borrowers’ demographic information.
While innovation and regulation are often thought of as in tension, industry participants suggest that with artificial intelligence, the two factors can work together.
The annual student loan report published by the CFPB was 15 pages short of the original report written by the bureau’s former student loan ombudsman, Julia Barnard.
SCOTUS won’t hear petition in a discrimination case; Fed initiates enforcement action against a former PrimeLending employee; CFPB will no longer provide HMDA updates via GovDelivery email.
The trade association asked the CFPB to exclude asset-backed financing transactions from its rule defining larger participants in the auto loan market, regardless of if they are securities or lending transactions.