Kristen Clarke, assistant attorney general in the DOJ’s civil rights division, said the settlement shows that the DOJ intends to hold “all types of lenders accountable for their role in modern-day redlining.”
“Without an increase in NMLS processing fees, CSBS staff projected losses of nearly $133 million over the next decade,” CSBS said in a report in response to feedback received on the proposal.
Andrew Davidson & Co. used data on credit use, balance and payment across time and multiple loan types to garner a comprehensive view of consumer financial behavior.
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