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Inside the CFPB

March 28, 2022

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CFPB Applying ‘Unfairness’ Standard in All Markets

The bureau announced changes to examiners’ procedures, saying it will now scrutinize all covered markets for discriminatory practices under the “unfairness” standards. Read More

CRA Overhaul Likely to Maintain Qualitative Factors

Industry stakeholders have raised concerns that the use of qualitative factors and examiner judgment in evaluation of CRA-related activities can lead to inconsistent interpretations of the law. Read More

DOJ Ramps Up Redlining Investigations, Enforcement Actions

The DOJ is self-referring investigations and scrutinizing lenders’ HMDA loan application register data for redlining practices, according to industry attorneys. Read More

Chopra Highlights Policy Agenda in TV Appearances

In recent television appearances, the CFPB director was asked about a grab bag of issues, including auto lending, student loans, credit cards, cryptocurrencies and buy now, pay later products. Read More

Democrats Seek Review of Racial Disparity in Wells’ Refi Lending

The request comes in the wake of a media report that, of all large lenders, Wells Fargo had the biggest disparity between Black and white homeowners in refinancing approval rates. Read More

Bureau EEO Investigations Faster But Complaints Tick Up

Compared to fiscal year 2020, complaint investigations have returned to and even improved previous processing times. But the number of complaints appears to be reversing a general downward trend. Read More

Federal Task Force Outlines Next Steps on Appraisal Bias

For its part, the CFPB said it will take an “active leadership role” on the Federal Financial Institutions Examination Council’s Appraisal Subcommittee. Read More

CFPB Launches Initiative to Tackle Rural Financial Issues

The bureau will start by focusing on banking deserts, access to agricultural credit and manufactured housing. Read More

Other News in Brief

Changes to debt collection exams; court allows CFPB enforcement action to proceed; CFPB warns against gagging consumer reviews; junk fee comment deadline extended; changes to medical collection debt reporting. Read More

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