A number of civil rights and affordable housing groups, including NCRC, criticized the Fannie, Freddie reform bill as an “ill-conceived approach [that] places the risk on the backs of the hardworking families who already rescued the big banks.”
The Consumer Financial Protection Bureau stripped the Office of Fair Lending of its enforcement powers. John Taylor, President and CEO of the National Community Reinvestment Coalition said, “I am appalled to see one of the most effective offices within the CFPB stripped of responsibility to stop redlining, predatory lending, and other discriminatory behavior by financial firms.”
City lab attains draft of new HUD proposal to enforce work requirements and increase rent for millions receiving housing HUD.
City Lab: HUD may push new work requirements for public housing residents Read More »
“Opening up the floodgates on lending discrimination will damage the ability for people of color to build wealth,” said Debbie Goldstein, executive vice president of the Center for Responsible Lending.
PayPal Holdings Inc’s shares fell as much as 12 percent in after-hours trading on Wednesday after former parent company eBay Inc said it had signed up a new primary payment processor.
Business Insider: PayPal’s getting whacked after eBay announces a new payment partner Read More »
Court rules in favor of consumer protection and finds the CFPB’s independent structure constitutional.
NCRC applauds D.C. Circuit Court decision in landmark CFPB case Read More »
Interim Director Mick Mulvaney has stripped CFPB Office of Fair Lending and Equal Opportunities of its enforcement powers against redlining and predatory behavior by financial firms.
The independent structure of the Consumer Financial Protection Bureau is constitutional, an appeals court ruled Wednesday in a blow to President Donald Trump’s efforts to ease regulations on the financial system.
The affordable-housing mandates at Fannie Mae and Freddie Mac were not the primary cause of the 2007-09 recession.
Housing policy didn’t cause the 2007 crash Read More »
PHH’s challenge to Consumer Financial Protection Bureau leadership structure rebuked by full Court of Appeals
Housing and Urban Development Secretary Ben Carson allowed his son to help organize an agency “listening tour” in Baltimore last summer despite warnings from department lawyers that doing so risked violating federal ethics rules, according to internal documents and people familiar with the matter.
This bill reforms Fannie Mae and Freddie Mac, but abolishes their affordable housing goals. This should be a dealbreaker for any fair-minded Senator.
Senate considers abolishing the GSE’s affordable housing goals Read More »
In a memo to bureau staff made public by ProPublica, Mulvaney finally laid out his vision for the agency: a government entity that doesn’t “push the envelope.”
The Atlantic: The CFPB’s new mission Read More »
Progressive groups are concerned that a housing finance system without Fannie and Freddie in their current state could jeopardize affordable housing.
American Banker: Backers of Senate GSE plan reject claims that it’s too conservative Read More »
The Consumer Financial Protection Bureau dropped an investigation triggered by a 2013 ProPublica story about a lender that charges triple-digit interest rates.
