Tag Archives: Fair Lending

Release of 2017 HMDA Data

The Federal Financial Institutions Examination Council (FFIEC) released yesterday data on mortgage lending at institutions covered by the Home Mortgage Disclosure Act (HMDA) — a total of just under 6,000 banks, credit unions and non-bank mortgage lenders.  Concurrently, the Consumer Financial Protection Bureau (CFPB) released a “first look” report on mortgage market activity and trends based … Continue Reading

CFPB Issues its First No-Action Letter

On September 14, 2017, the Consumer Financial Protection Bureau (the “CFPB” or the “Bureau”) issued a no-action letter for the first time, after having finalized its no-action letter policy in February 2016.  The Bureau’s letter grants a request by Upstart Network, Inc. (“Upstart”), an online lender that uses both traditional and non-traditional credit scoring data, … Continue Reading

CFPB Announces Fair Lending Priorities in Fifth Annual Fair Lending Report

On April 15, 2017, the CFPB issued its fifth annual Fair Lending Report (“Report”). The Report describes the CFPB’s 2016 fair lending supervisory, enforcement, and rulemaking activities, interagency collaboration, and outreach to stakeholders. Most importantly, the Report outlines the CFPB’s fair lending priorities for 2017, indicating that the CFPB will increase its focus on redlining, … Continue Reading

CFPB Releases Fall 2016 Supervisory Highlights Together With New Guidance on Student Loan Servicing, Fair Lending, Reverse Mortgage Servicing

The CFPB released yesterday its Supervisory Highlights for Fall 2016.  The Supervisory Highlights state that, taking into account non-public enforcement actions, “recent supervisory activities […] resulted in approximately $11.3 million in restitution to more than 225,000 consumers” during the May-August 2016 review period. The Highlights reflect continued focus by the CFPB on many of the … Continue Reading
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