Fair Lending

FFIEC: Statement Issued on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending   

The Federal Financial Institutions Examination Council today issued a statement of principles related to valuation discrimination and bias for member entities to consider in their consumer compliance and safety and soundness examinations. The principles aid member entities in assessing whether their supervised institutions’ compliance and risk management practices are appropriate to identify and mitigate discrimination…

OCC: Public Appraisal Subcommittee Hearing on Appraisal Bias Scheduled for February 13th

The Office of the Comptroller of the Currency (OCC) will host a public hearing of the Appraisal Subcommittee (ASC) on appraisal bias on February 13, 2024, from 10:00 a.m. to 1:00 p.m., at its headquarters, 400 7th Street SW, Washington, D.C. Acting Comptroller of the Currency Michael J. Hsu will provide opening remarks. The subcommittee panel…

OCC: Guidance Issued on “Buy Now, Pay Later” Lending

The Office of the Comptroller of the Currency (OCC) today issued guidance to national banks and federal savings associations to address the risks associated with “buy now, pay later” lending. The guidance focuses on the risk management of buy now, pay later (BNPL) loans, which are payable in four or fewer installments and carry no…

Joint Statement Issued Cautioning that Financial Institutions May Not Use Immigration Status to Illegally Discriminate Against Credit Applicants

Borrowers report being denied loans because of their immigration status The Consumer Financial Protection Bureau (CFPB) and Justice Department today issued a joint statement that reminds financial institutions that all credit applicants are protected from discrimination on the basis of their national origin, race, and other characteristics covered by the Equal Credit Opportunity Act, regardless…

HUD: Civil Rights Protections Against Housing Discrimination on the Basis of Shared Ancestry or Ethnic Characteristics Clarified

As part of the Biden-Harris Administration’s National Strategy to Counter Antisemitism, HUD’s Office of Fair Housing and Equal Opportunity joins seven other federal agencies to issue fact sheets on Title VI protections Today, the U.S. Department of Housing and Urban Development (HUD) and seven other agencies across the federal government are for the first time clarifying in writing that…

OCC: Bank Supervision Operating Plan for Fiscal Year 2024 Released

The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2024. The plan outlines the OCC’s supervision priorities and objectives for the year. It also facilitates the implementation of supervisory strategies for individual national banks, federal savings associations, federal branches and agencies of foreign banking…

FDIC: Equal Housing Lender Poster Updates Announced

FDIC-supervised institutions are required to maintain up-to-date Equal Housing Lender (EHL) posters in branches, as required by the Fair Housing Act. The FDIC recently amended some details of the posters, including updating the name of the office to which complaints should be addressed, as well as adding the web address of the FDIC’s web-based complaint…

Agencies to Host Roundtable on Special Purpose Credit Programs on September 12th

Four federal agencies will host a roundtable discussion September 12, 2023, at 3:00 p.m. EDT regarding the availability of special purpose credit programs to help meet the credit needs of eligible individuals. The event will be open to the public via livestream. U.S. Department of Housing and Urban Development Secretary Marcia L. Fudge, Acting Comptroller…

HUD: Partnership Announced with the National Association of Real Estate Brokers (NAREB) to Address Appraisal Bias and Discrimination

Partnership will increase education, outreach, and other efforts to tackle appraisal bias and discrimination. The U.S. Department of Housing and Urban Development (HUD) and the National Association of Real Estate Brokers (NAREB) unveiled today a partnership aimed at tackling appraisal bias and discrimination in the housing market. This historic collaboration, set to launch in the…

FFIEC: Availability of 2022 Data on Mortgage Lending Announced

The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,460 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies. The HMDA data are the most comprehensive publicly available information on mortgage market activity. The…