Reuters: Housing group urges court to revoke CFPB mortgage reporting rule

Reuters, December 11, Housing group urges court to revoke CFPB mortgage reporting rule

Several housing advocacy groups asked a federal judge in Washington, D.C., to declare unlawful a U.S. Consumer Financial Protection Bureau rule that decreased the number of financial institutions required to publicly report mortgage data meant to expose discriminatory lending.

The National Community Reinvestment Coalition and other groups urged Chief U.S. District Judge Beryl Howell to grant summary judgment in its lawsuit challenging Regulation C, a rule finalized in May that raises the threshold for reporting under the Home Mortgage Disclosure Act (HDMA) and which they say would exempt more than a third of financial institutions that currently report data.

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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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