The bureau also has dropped pursuit of two rulemakings under the Home Mortgage Disclosure Act. One concerns the data points lenders must report and another is related to the public disclosure of HMDA data.
Read More
Acting Director Uejio said algorithm bias is top of mind when it comes to addressing issues related to racial bias in the housing appraisal process.
Read More
The bureau said it will take into account any impact lenders faced regarding loan closings due to the last moment announcement of the Juneteenth holiday.
Read More
The government watchdog said most of the bureau enforcement attorneys and examiners it interviewed did not recall the director’s office or SEFL leadership communicating clear goals for the reorganization after its announcement or during the implementation.
Read More
The bureau said it no longer finds “persuasive” the previous CFPB leadership’s belief that Congress had not granted the agency examination authority under the Military Lending Act.
Read More
New delinquencies on auto loans and credit cards have risen somewhat since July 2020, but are still below pre-pandemic levels, the CFPB said in a new report.
Read More
While Black and Hispanic first-lien borrowers had denial rates of 17.2% and 11.2%, respectively, the rate for non-Hispanic whites and Asians came in at 6.1% and 9.1%, respectively.
Read More
Judge approves stay in lawsuit against bureau; FAQs explain e-Transfers and error resolution; New Hampshire clarifies licensing requirements; DC appeals court keeps CDC eviction moratorium in place; debt collectors in California must file for license by the end of the year; House passes bill that would remove human trafficking debts from credit reports.
Read More