“MBA objects to the bureau’s overbroad interpretation of the scope of its abusiveness authority,” wrote Pete Mills, a senior vice president of residential policy and strategic industry engagement at the MBA.
“Our review found that when all relevant factors are controlled for, which CNN did not do, the difference in approval rates between Black and White borrowers falls to less than 1%,” said Debo Adegbile, a partner at the law firm of WilmerHale who was hired by Navy Federal to complete the review.