Discrimination or improper exclusion can trigger liability under ban on unfair acts and practices Today the Consumer Financial Protection Bureau (CFPB) announced changes to its supervisory operations to better protect families and communities from illegal discrimination, including in situations where fair lending laws may not apply. In the course of […]
The Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), the Consumer Financial Protection Bureau (CFPB or Bureau), the Department of Housing and Urban Development (HUD), the Department of […]
The Office of the Comptroller of the Currency (OCC) today issued the revised interagency Home Mortgage Disclosure Act (HMDA)1examination procedures for determining compliance with HMDA and its implementing regulations. Rescission This bulletin rescinds OCC Bulletin 2010-8, “Compliance Policy: Revised Home Mortgage Disclosure Act Examination Procedures.” OCC Bulletin 2019-19, “Home Mortgage […]
Examiners found violations in areas including mortgage servicing, fair lending, payday, and remittances The Consumer Financial Protection Bureau (CFPB) today issued a Supervisory Highlights report, which shines a light on legal violations identified by the CFPB’s examinations in the first half of 2021. The report also highlights prior CFPB supervisory […]
Insights gathered will support a fairer mortgage market Today, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) to seek input on rules implementing the Home Mortgage Disclosure Act (HMDA). The CFPB plans to review recent changes to the rule and evaluate their effectiveness. This evaluation will […]
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for areas in the State of North Carolina affected by the remnants of Tropical Storm Fred from August 16 to August 18, 2021. On September 8, 2021 President Biden issued a major disaster declaration for […]
Today, the Federal Housing Finance Agency (FHFA) released several sets of demographic data related to Fannie Mae and Freddie Mac’s (the Enterprises) fair lending and housing goals activities. The rate of homeownership for minority families in the United States continues to lag well behind the national average. Fair lending is […]
The Bureau of Consumer Financial Protection (Bureau) is publishing for public comment a proposed rule amending Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) made by section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Consistent with section 1071, the Bureau […]
Today, the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) (collectively, the Agencies) entered into a first-of-its-kind collaborative agreement regarding fair housing and fair lending coordination. Under the Memorandum of Understanding (MOU), the two Agencies will focus on enhancing their enforcement of the […]
Supervisory data show some servicers struggled to assist borrowers The Consumer Financial Protection Bureau (CFPB) today published a report detailing 16 large mortgage servicers’ COVID-19 pandemic response. The report’s data metrics include call handling and loan delinquency rates, and they highlight the industry’s widely varied response to the pandemic. For […]