Browsing: Fair lending

Compliance and Risk

The Consumer Financial Protection Bureau today finalized a rule required by the Dodd-Frank Act that expands the data lenders are required to collect and report under the Home Mortgage Disclosure Act. The new required information includes the property value, loan term and the duration of any introductory interest rates, as well as underwriting and pricing

Legal

The New York Bankers Association on Friday won its legal challenge to New York City’s Responsible Banking Act, with a federal judge striking down the city ordinance as unconstitutional in its attempt to preempt state and federal banking laws.

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