ProPublica, July 13, 2020: Trump Financial Regulator Quietly Shelved Discrimination Probes Into Lenders
Regulators fall short if they turn a blind eye to discrimination or only issue quiet reprimands and private wrist-slaps when they find abuses, said Jeremy Kress, a former Federal Reserve attorney.
“Banks are less likely to misbehave if they think they are going to be called out for wrongdoing,” he said. “We can’t rely on regulators to do their job in secret, as recent scandals have shown.”
