CFPB: Final Rule Issued to Create New Data Set on Small Business Lending Under Section 1071 Requirements

Rule will fulfill congressional mandate and shine light on key engine of American economy The Consumer Financial Protection Bureau (CFPB) has finalized a rule required by Congress to increase transparency in small business lending, promote economic development, and combat unlawful discrimination. Lenders will collect and report information about the small […]

ABA: Statement on CFPB Small Business Data Collection Rule Released

“America’s banks oppose discrimination in any form and support enforcement of fair lending laws and the goals of Section 1071. Banks of all sizes have a long history of lending to creditworthy small businesses across the country, and ABA supports bank efforts to lend to underserved small businesses. “While today’s final […]

HUD: “Discriminatory Effects” Rule Restored

Department to rescind 2020 Fair Housing Act rule and restore 2013 policy to eradicate discriminatory practices from housing market Today, the U.S. Department of Housing and Urban Development (HUD) announced that it has submitted to the Federal Register for publication a Final Rule entitled Restoring HUD’s Discriminatory Effects Standard. The Final […]

FHFA: Notice of Proposed Rulemaking Issued Modifying Certain Provisions of the Enterprise Regulatory Capital Framework

Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comment on a notice of proposed rulemaking that would amend several provisions of the Enterprise Regulatory Capital Framework (ERCF) for Fannie Mae and Freddie Mac (the Enterprises). “​As a safety and soundness regulator, FHFA monitors the housing finance […]

FHFA: Public Comment Period Announced for Federal Home Loan Bank Members’ Community Support Performance

The Federal Housing Finance Agency (FHFA) today announced that the Agency will review all applicable Federal Home Loan Bank (FHLBank) members in 2023 under FHFA’s community support program (CSP) regulation. FHFA is issuing a Federal Register Notice inviting the public to comment on the community support performance of individual members […]

FDIC: Update on Supervisory Approach Regarding Changes to HMDA’s Closed-End Mortgage Loan Volume Reporting Threshold

The Federal Deposit Insurance Corporation (FDIC) is issuing this Financial Institution Letter to inform supervised institutions of recent changes regarding the Home Mortgage Disclosure Act (HMDA) reporting threshold for closed-end mortgage loans and the FDIC’s supervisory approach for enforcing related requirements. For FDIC-supervised institutions that meet Regulation C’s coverage requirements, […]

HUD: Expanded Support Proposed for Housing Counseling Services Tailored to the Needs of Tribal Communities

Proposed rule seeks to expand Tribal participation in HUD-approved housing counseling by removing unique impediments to counselor certification. The U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling is announcing today that it published a proposed rule in the Federal Register outlining housing counselor certification requirements for housing counseling conducted in […]