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.
ABA, state bankers associations offer recommendations for CRA rules revisions
As banking agencies consider amending the regulations that implement the Community Reinvestment Act, they should preserve the broader framework while making changes to better tailor supervision, increase regulatory thresholds and focus on lending, ABA and 45 state bankers...
