Financial Regulatory Reform Passed by Conference Committee

Anti Predatory Provisions:

  • A new minimum underwriting standard would be enforced that will make lenders verify that borrowers can repay the loan.
  • Ban payments to mortgage originators who steer borrowers into high-priced loans.
  • Protection against prepayment penalties and abusive loan fees.

Data Enhancements:

  • Data enhancements on HMDA (Home Mortgage Disclosure Data) which include loan terms and conditions & age of borrower.
  • Data on the gender and race of the small business borrower so that we know whether woman and minority-owned small business are receiving loans and can start or expand their businesses.
  • A default and foreclosure database that would be an early warning system enabling stakeholders to take action if the data shows a spike in foreclosures.
  • A database of individual loan records in the Home Affordable Modification Program (HAMP) program. This will increase the accountability of the industry for modifying distressed loans.


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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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