The National Community Reinvestment Coalition criticised the growing practice among lenders of not collecting race and ethnicity data under HMDA, saying 23% of listed loans now lack the information.
Attorneys for law firm Garris Horn said lenders should take certain steps to protect themselves against redlining accusations by regulators, recommending lenders virtue signal more often.
A Federal Reserve study evaluated if giving Community Reinvestment Act credit for purchasing loans benefits LMI credit availability, finding that it creates more loan purchases but not more originations.
The recent changes to the CFPB’s supervision manual that brought discriminatory conduct under its “unfairness” standard are unlawful, a coalition of banking trade groups argued in a new white paper.
Trade associations said HMDA disclosure requirements impose a substantial financial burden on their members, while advocates pressed for more data to be collected and published.
Bank overdraft and NSF fee practices in easy-to-read, comparative table; Fourth Circuit overturns ruling on convenience fees; CFPB publishes HMDA data entry helper; five federal agencies launch campaign to tackle dating scams.
In the new year, the CFPB will propose changes to its loss-mitigation rules to govern how residential servicers work with borrowers affected by natural disasters and other emergencies.
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