Growing number of lawmakers seek investigation of Navy Federal Credit Union
Two dozen House lawmakers called on federal regulators to investigate the nation’s largest credit union following reports of racial disparities ...
Tag: Fair lending
The 2024 compliance outlook
Change is the only constant and banks’ processes must be fine-tuned to detect all that happens in a rapidly-transforming regulatory ...
CFPB, DOJ warn against using immigration status to determine creditworthiness
Financial institutions risk violating federal protections against discrimination if they rely on immigration status to determine a consumer’s credit worthiness, ...
Judge grants win to ABA, Chamber in lawsuit over CFPB UDAAP exam manual
A federal judge in Texas today granted summary judgment to ABA, the Texas Bankers Association, the U.S. Chamber of Commerce ...
Compliance question of the month: What methods may banks use to estimate gross annual revenue to determine their tier for data collection purposes under the §1071 rule?
My bank will be reporting small business lending data under the Equal Credit Opportunity Act (as required by the §1071 ...
Section 1071 requirements will bring major challenges and risks
Another indication of significant challenges ahead is the 888-page final rule’s frequent use of a version of the term “reasonably ...
Fed’s Barr highlights digital redlining risk resulting from AI tools
While artificial intelligence and machine learning have enormous potential, Federal Reserve Vice Chairman for Supervision Michael Barr cautioned that “they ...
Housing affordability: In the pursuit of equity
Affordable housing is an old problem in search of new solutions. As banks develop creative, sustainable programs to help close ...
ABA joins Texas lawsuit to block CFPB’s Section 1071 rule
ABA President and CEO Rob Nichols announced today that ABA has joined a lawsuit filed by the Texas Bankers Association ...
Podcast: Designing and launching a special-purpose credit program
For many small business owners, the first step on the credit ladder is the hardest, and they may miss opportunities ...
