Former HUD officials launch new compliance consulting firm; CFPB issues CID to Honda Finance; CFPB seeks further auto finance data; bureau to distribute funds to consumers harmed by debt relief company.
The Fed provided a list of “sound practices” for HMDA reporting, including recommending oversight by the bank’s board and senior management, standardized processes and training.
“If I were a dues-paying member of these trade groups, I might ask for my money back,” said Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition, commenting on bank trade groups challenging revisions to CRA standards.