Yesterday, the Consumer Financial Protection Bureau (CFPB) released its Fall Supervisory Highlights. The report covers examinations completed between January and June of 2021. Over the last year, the Biden-era CFPB has made various statements about its priorities. For instance, the Bureau has issued comments or taken action related to the small dollar lending agenda,
U.S. House of Representatives Considers Bill to Improve Language Access in Mortgage Servicing
In recent months, regulatory bodies throughout the federal government have focused on ways to promote greater access to financial products and services to limited English proficiency (LEP) consumers. Take for example the Consumer Financial Protection Bureau’s (CFPB) January 2021 statement encouraging financial institutions to better serve LEP consumers and examples of recent enforcement actions by
FHFA Issues Policy Statement on Fair Lending Requirements under the ECOA, Fair Housing Act, and Safety and Soundness Act
On Thursday, the Federal Housing Finance Agency (FHFA) issued a policy statement covering its views on fair lending requirements (Fair Lending Policy Statement) under the Equal Credit Opportunity Act, the Fair Housing Act, and the Federal Housing Enterprises Financial Safety and Soundness Act. The Fair Lending Policy Statement is the latest in a
Biden Administration Continues Fair Lending Efforts as HUD Announces Proposal to Restore the Discriminatory Effects Rule
One of the Biden administration’s first actions was a January 25, 2021, executive order on Redressing Our Nation’s and the Federal Government’s History of Discriminatory Housing Practices and Policies, whereby the White House committed to revitalizing enforcement of fair lending laws to address the “ongoing legacies of residential segregation and discrimination [that] remain ever-present