The goal is to prevent credit discrimination under the Equal Credit Opportunity Act. The bureau also seeks input on its approach to the disparate-impact rule.
More than a dozen Democratic senators, led by Sen. Sherrod Brown, OH, have urged acting Comptroller Brian Brooks to confirm the OCC’s fair lending responsibilities.
The CFPB is facing legal challenges from fair lending advocacy groups over its Home Mortgage Disclosure Act final rule that raises reporting thresholds for mortgage lenders.
The bureau recently issued two factsheets addressing transaction coverage and appraisal delivery requirements under the Equal Credit Opportunity Act’s valuation rule.
Lawmakers, led by Sen. Sherrod Brown, D-OH, are urging Director Kathy Kraninger to not weaken the bureau’s ability to identify discriminatory lending patterns, particularly during the pandemic.
Attorneys have cautioned mortgage servicers about the potential fair lending risks that may arise from their handling of forbearance and loan-modification requests due to the pandemic.
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