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 »
Federal Research Financial Crisis Inquiry Report (2010)[1] “Conclusions of the Financial Crisis Inquiry Commission” “We also studied at length how the Department of Housing and Urban Development’s (HUD’s) affordable housing goals for the GSEs affected their investment in risky mortgages. Based on the evidence and interviews with dozens of individuals involved in this subject area,
Don’t blame the affordable housing goals for the financial crisis 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.
In the latest sign that the Consumer Financial Protection Bureau is pulling back from aggressive enforcement, it dropped an investigation triggered by a 2013 ProPublica story about a lender that charges triple-digit interest rates.
Silicon Valley executive Anthony Noto has left Twitter to become chief executive officer of online lender Social Finance Inc
Reuters: Online lender SoFi nabs Twitter executive Noto as CEO Read More »
Interim Director Mick Mulvaney requested zero additional funds for the CFPB in the second quarter of fiscal year 2018.
American Banker: ‘I am not trying to starve the agency,’ CFPB chief reiterates Read More »
Anthony Yezer’s recent white paper, Personal Privacy of HMDA in a World of Big Data, is part of the banking industry’s continued effort to limit public access to data collected by federal agencies.[1] Yezer’s paper, which was funded by the Mortgage Bankers Association, fundamentally challenges data collection and reporting under the Home Mortgage Disclosure Act
Rebuttal to personal privacy of HMDA in a world of big data Read More »
Gentrification has become a more capacious idea lately. The poor are still gentrification’s victims, but in this new meaning, the harm is not rent increases and displacement — it’s something psychic, a theft of pride and an appropriation of culture.
New York Times: When gentrification isn’t about housing Read More »
