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AmericanBanker: Mulvaney launches public review of entire CFPB

AmericanBanker, January 17, 2018: Mulvaney launches public review of entire CFPB

The CFPB said it plans to publish a series of requests for information in the Federal Register in the coming weeks asking for the public to weigh in on the agency’s enforcement, supervision, rulemaking, market monitoring and education activities.

“In this New Year, and under new leadership, it is natural for the bureau to critically examine its policies and practices to ensure they align with the bureau’s statutory mandate,” Mulvaney said in a press release. “Moving forward, the bureau will consistently seek out constructive feedback and welcome ideas for improvement.”

It was the second significant move by Mulvaney in two days. He announced Tuesday that the agency would reopen its final rule targeting payday lending, a decision that has sparked condemnation by Democrats and consumer groups.

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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