The Consumer Financial Protection Bureau will increase its efforts in 2017 to prevent credit discrimination and improve credit access, according to a blog post published on the CFPB website today. Specifically, the bureau will investigate “redlining” issues to determine whether lenders have intentionally avoided lending in minority neighborhoods. It will also evaluate whether women and minorities experience discrimination when applying for credit, or experience greater difficulty when attempting to work out payment arrangements with servicers for student loans or home mortgages.
FOMC holds rates steady at January meeting
The Federal Open Market Committee voted to maintain the target range of the federal funds rate at 3.5%-3.75%. Two FOMC members voted against the action, instead seeking further cuts.
