Legal Newsline, April 12, 2021, CFPB says new rule, under assault from community groups will help smaller businesses
A District of Columbia federal judge now has arguments from both sides in the dispute over whether a new rule changing how mortgage data is collected is “arbitrary and capricious.”
It raises those thresholds from a rule published five years ago, but it will interfere with the ability to make sure lenders are meeting the housing needs of their communities, says a coalition of plaintiffs led by the National Community Reinvestment Coalition.
