The 2023 order, aimed at ensuring the collection of information about applicants’ race, ethnicity and gender, wasn’t scheduled to be lifted until 2028. Regulators say the bank has fulfilled its obligations. Continue reading
Judge declines to reopen case and vacate settlement with Chicago mortgage broker Townstone Financial, calling the request “a Pandora’s box the court refuses to open.” Continue reading
The Trump administration is seeking to cut 90 percent of the CFPB’s workforce, and has dismissesd about 20 active enforcement cases and moved to vacate or weaken several finalized settlements. Continue reading
A hearing on an order barring the Trump administration’s move to fire all but 200 of the CFPB’s 1,700 employees is set for Friday, with Democrats calling it an attempt to dismantle the bureau. Continue reading
Fair housing and consumer groups are trying to stop the Trump administration from vacating a settlement the government reached with a Chicago mortgage broker just days before the November election. Continue reading
Flood of orders published without explanation on social media target programs and practices designed to boost lending in minority communities, protect borrowers from unfair or deceptive practices. Continue reading
Lenders no longer under orders to keep a sharper lookout for appraisal bias or have a process for helping borrowers who suspect appraisal bias to ask for a “reconsideration of value.” Continue reading
Nation’s third biggest lender casts itself as a victim of politics, noting CFPB launched its investigation the day after Biden Administration took office. Continue reading
Since launching an initiative to combat redlining in 2021, federal prosecutors have reached settlements with 13 mortgage lenders totaling more than $137 million. Continue reading
Appraisal management company Solidifi and lending giant Rocket Mortgage are also charged with violating the Fair Housing Act. Rocket says it expects to prevail. Continue reading