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 ...
Tag: Fair lending
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 ...
HUD to reinstate 2013 disparate impact rule
The Department of Housing and Urban Development announced today that it will re-codify the 2013 disparate impact rule, saying the ...
Compliance for 2023: What does the future hold?
With uncertainty the rule, the best advice is to have banks’ change-management processes ready for whatever comes.
CFPB affirms ECOA applies to existing borrowers
In an advisory opinion, the CFPB affirmed that the Equal Credit Opportunity Act and its implementing regulation, Regulation B, protect ...
Banks awarded for increased investment in distressed communities
The Treasury Department’s Community Development Financial Institutions Fund today awarded $26 million to 158 FDIC-insured banks through the fiscal year ...
ABA Regulatory and Compliance Inbox: Can We Base Mortgage Credit Decisions on the Assets of the Borrower?
What would my bank report if instead of income it based the credit decision on the assets of the borrower?
