CFPB: Symposium Announced for Dodd-Frank and Equal Credit Opportunity Acts on November 6th

 The Consumer Financial Protection Bureau (Bureau) announced today that it will hold a symposium on Section 1071 of the Dodd-Frank Act on November 6, 2019 at 9:30 a.m. The event will be webcast on the Bureau’s website.  Section 1071 amended the Equal Credit Opportunity Act (ECOA) to require financial institutions […]

CFPB: Agency Issues Final HMDA Rule to Provide Relief to Smaller Institutions

The Consumer Financial Protection Bureau (Bureau) today issued a rule which finalizes certain aspects of its May 2019 Notice of Proposed Rulemaking under the Home Mortgage Disclosure Act (HMDA). It extends for two years the current temporary threshold for collecting and reporting data about open-end lines of credit under HMDA. […]

CFPB: Bureau to Enhance Consumer Complaint Database

Today the Consumer Financial Protection Bureau (CFPB) announced that it will continue the publication of consumer complaints, data fields and narrative descriptions through the Bureau’s Consumer Complaint Database while making several enhancements to the information available to users of the database. The enhancements include: modified disclaimers to provide better context […]

FFIEC: 2018 HMDA Data on Mortgage Lending Available

The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,683 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. Released today are loan-level HMDA data covering 2018 lending […]

CFPB: FFIEC Announces Availability of 2018 HMDA Data on Mortgage Lending

The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,683 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. Released today are loan-level HMDA data covering 2018 lending […]

HUD: Revised “Disparate Impact” Rule Proposed

New proposed disparate impact rule more appropriately reflects 2015 Supreme Court ruling  The U.S. Department of Housing and Urban Development (HUD) today published a proposed rule to amend the HUD interpretation of the Fair Housing Act’s disparate impact standard. The proposed rule as amended would provide more appropriate guidance on […]

CFPB: HMDA Modified Loan Application Registers from 2018 Released

Today, the Home Mortgage Disclosure Act (HMDA) Modified Loan Application Registers (LARs) data were published for approximately 5,400 financial institutions. This is the first year in which additional data reported by certain institutions under the 2015 HMDA rule will be available. The Modified LARs contains loan level information for 2018 […]

CFPB: Report Released on 2018 Administration of the Fair Debt Collection Practices Act

The Consumer Financial Protection Bureau (Bureau) released the annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights the continued efforts by the Bureau and the Federal Trade Commission (FTC) to stop unlawful debt collection practices, including vigorous law enforcement, education and […]

CFPB: 2017 Fair Lending Report Promotes Fair, Equitable and Nondiscriminatory Access to Credit

Access to credit is a key to economic mobility and prosperity for consumers and small businesses alike. Our annual Fair Lending Report to Congress highlights how in 2017 we continued to focus on promoting fair, equitable, and nondiscriminatory access to credit in mortgage lending, continued fair lending supervision of servicing […]

OCC: Revisions to Impact of Evidence of Discriminatory or Other Illegal Credit Practices on CRA Ratings

Description: Revisions to Impact of Evidence of Discriminatory or Other Illegal Credit Practices on Community Reinvestment Act Ratings Summary The Office of the Comptroller of the Currency (OCC) is issuing this bulletin to make public the revised Policies and Procedures Manual (PPM) 5000-43, which clarifies the OCC’s policy for applying […]