The Consumer Financial Protection Bureau will remove day-to-day oversight and enforcement authority from its Office of Fair Lending and Equal Opportunity, according to reports today.
ABA compliance experts break down what bankers can expect in 2018.
As part of the banking industry’s continuing response to President Trump’s executive order outlining “core principles” for financial regulation, ABA today urged federal regulators and law enforcement to reign in disparate impact and redlining investigations that go beyond the law and Supreme Court precedent.
The Consumer Financial Protection Bureau said today that it will prioritize redlining, mortgage and student loan servicing and small business lending in its fair lending enforcement activities this year.
However, the hottest trending topic in fair lending risk right now surrounds the old-fashioned practice of redlining.