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CFPB’s questions to banks suggest new frontiers in fair-lending scrutiny

CFPB’s questions to banks suggest new frontiers in fair-lending scrutiny

CFPB’s questions to banks suggest new frontiers in fair-lending scrutiny
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CFPB’s questions to banks suggest new frontiers in fair-lending scrutiny
CFPB’s questions to banks suggest new frontiers in fair-lending scrutiny
CFPB’s questions to banks suggest new frontiers in fair-lending scrutiny
CFPB’s questions to banks suggest new frontiers in fair-lending scrutiny
nationalmortgagenews nationalmortgagenews | 2 years ago
Questionnaires sent to banks in recent months seek information about loans to same-sex couples, women on maternity leave and people with limited English proficiency. Industry executives and attorneys say the Consumer Financial Protection Bureau may be offering hints about specific types of…
Questionnaires sent to banks in recent months seek information about loans to same-sex couples, women on maternity leave and people with limited English proficiency. Industry executives and attorneys say the Consumer Financial Protection Bureau may be offering hints about specific types of…
CFPB reiterates skepticism of AI in fair lending report
CFPB reiterates skepticism of AI in fair lending report
CFPB reiterates skepticism of AI in fair lending report
CFPB reiterates skepticism of AI in fair lending report
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
CFPB issues advisory opinion on fair-lending laws
CFPB issues advisory opinion on fair-lending laws
CFPB issues advisory opinion on fair-lending laws
CFPB issues advisory opinion on fair-lending laws
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
Regulators should support adoption of fair-lending algorithms
Regulators should support adoption of fair-lending algorithms
Regulators should support adoption of fair-lending algorithms
Regulators should support adoption of fair-lending algorithms
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
In 1869, the English judge Baron Bramwell rejected the idea that “because the world gets wiser as it gets older, therefore it was foolish before.” Financial regulators should adopt this same reasoning when reviewing financial institutions’ efforts to make their lending practices fairer using advanced technology like artificial intelligence and machine learning.If regulators don’t, they risk holding back progress by incentivizing financial institutions to stick with the status quo rather...
In 1869, the English judge Baron Bramwell rejected the idea that “because the world gets wiser as it gets older, therefore it was foolish before.” Financial regulators should adopt this same reasoning when reviewing financial institutions’ efforts to make their lending practices fairer using advanced technology like artificial intelligence and machine learning.If regulators don’t, they risk holding back progress by incentivizing financial institutions to stick with the status quo rather...
FDIC promises more scrutiny of banks' commercial real estate loans
FDIC promises more scrutiny of banks' commercial real estate loans
FDIC promises more scrutiny of banks' commercial real estate loans
FDIC promises more scrutiny of banks' commercial real estate loans
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
The Federal Deposit Insurance Corp. plans to increase its scrutiny of banks' exposure to commercial real estate loans, citing uncertainty about the future of work and commerce in the wake of the COVID-19 pandemic.The agency said that its examiners will put particular attention on testing newer loans, as well as loans within subsectors and geographic areas that are experiencing stress, and those that are vulnerable because borrowers are paying higher interest rates.In explaining the sharper focu...
The Federal Deposit Insurance Corp. plans to increase its scrutiny of banks' exposure to commercial real estate loans, citing uncertainty about the future of work and commerce in the wake of the COVID-19 pandemic.The agency said that its examiners will put particular attention on testing newer loans, as well as loans within subsectors and geographic areas that are experiencing stress, and those that are vulnerable because borrowers are paying higher interest rates.In explaining the sharper focu...
GAO: Fair-lending examinations at OCC lacking
GAO: Fair-lending examinations at OCC lacking
GAO: Fair-lending examinations at OCC lacking
GAO: Fair-lending examinations at OCC lacking
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
The Office of the Comptroller of the Currency’s examination process on fair-lending practices is outdated, according to a new report from the Government Accountability Office. In a review of five examinations of potential redlining, the GAO found that examiner guidance didn’t account for new statistical methods to analyze redlining, and that examiners were sometimes inconsistent.   Andrew Harrer/Bloomberg Examiners in three of those cases didn’t find banks’ responses sufficient ...
The Office of the Comptroller of the Currency’s examination process on fair-lending practices is outdated, according to a new report from the Government Accountability Office. In a review of five examinations of potential redlining, the GAO found that examiner guidance didn’t account for new statistical methods to analyze redlining, and that examiners were sometimes inconsistent.   Andrew Harrer/Bloomberg Examiners in three of those cases didn’t find banks’ responses sufficient ...
FHFA: GSE servicers must keep fair lending data
FHFA: GSE servicers must keep fair lending data
FHFA: GSE servicers must keep fair lending data
FHFA: GSE servicers must keep fair lending data
housingwire housingwire | 1 year ago
In a move the FHFA said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The post FHFA: GSE servicers must keep fair lending data appeared first on HousingWire.
In a move the FHFA said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The post FHFA: GSE servicers must keep fair lending data appeared first on HousingWire.
FHFA adds fair lending reporting mandate for servicers
FHFA adds fair lending reporting mandate for servicers
FHFA adds fair lending reporting mandate for servicers
FHFA adds fair lending reporting mandate for servicers
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
The Federal Housing Finance Agency on Wednesday announced that mortgage servicers working with loans backed by the government-sponsored enterprises will need to report and maintain fair lending data.The requirement, which will become effective in March of next year, is in line with the agency's ongoing push to use the GSEs' considerable influence in the market to establish a more equitable housing finance system through means that include tracking new types of data.The FHFA characterized its lat...
The Federal Housing Finance Agency on Wednesday announced that mortgage servicers working with loans backed by the government-sponsored enterprises will need to report and maintain fair lending data.The requirement, which will become effective in March of next year, is in line with the agency's ongoing push to use the GSEs' considerable influence in the market to establish a more equitable housing finance system through means that include tracking new types of data.The FHFA characterized its lat...
New NEPA Rule Restores Added Infrastructure Project Scrutiny
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White House reinstates required environmental review of project "cumulative impacts" that were removed by the Trump administration, but some are already being considered, says one industry expert
White House reinstates required environmental review of project "cumulative impacts" that were removed by the Trump administration, but some are already being considered, says one industry expert
FHFA report on GSE fair lending reveals “persistent” racial divide
FHFA report on GSE fair lending reveals “persistent” racial divide
FHFA report on GSE fair lending reveals “persistent” racial divide
FHFA report on GSE fair lending reveals “persistent” racial divide
housingwire housingwire | 1 year ago
A new Federal Housing Finance Agency (FHFA) report showed room for improvement in Fannie Mae and Freddie Mac's fair lending performance. The post FHFA report on GSE fair lending reveals “persistent” racial divide appeared first on HousingWire.
A new Federal Housing Finance Agency (FHFA) report showed room for improvement in Fannie Mae and Freddie Mac's fair lending performance. The post FHFA report on GSE fair lending reveals “persistent” racial divide appeared first on HousingWire.