NCRC applauds the announcement of Rohit Chopra to head Consumer Financial Protection Bureau
“Rohit Chopra will be a champion for fair lending and a renewed commitment to ending abusive practices in the financial market,” said NCRC CEO Jesse Van Tol.
CFPB
NCRC Initial Analysis of the CFPB SBREFA Panel Outline: A Step in the Right Direction but Improvements Sought
The CFPB’s initial proposals for the small business lending data take some steps in the right direction such as including a broad range of institutions from banks to non-bank financial technology companies that would be required to report data. However, some proposals would keep lending activity in the dark such as the proposal to not report Merchant Cash Advances, a form of credit that is higher cost and has been subject to abuses.
CFPB proposed changes to small business lending data a step in the right direction
The Consumer Financial Protection Bureau (CFPB) released yesterday an outline of proposals under consideration to collect data on lending to small businesses and help identify and address discrimination.
Joint Comment: Final Qualified Mortgage (QM) Rule Must Effectively Protect Consumers and Promote Access to Responsible Mortgage Credit
(Download) Thank you for the opportunity to comment on the Consumer Financial Protection Bureau’s (CFPB’s) qualified mortgage (QM) proposed rule. Given CFPB’s decision to end the GSE patch, we believe that a price-based approach is an appropriate and effective method to determine QM status. However, additional safeguards are necessary to ensure that the final rule …
FHFA Re-Proposed Capital Rule for the Enterprises Sign-on Letter
August 10, 2020 The Honorable Mark Calabria Director Federal Housing Finance Agency 400 7th Street, SW Washington, D.C. 20219 Hugh Frater CEO Fannie Mae Midtown Center 1100 15th Street, NW Washington, DC 20005 David Brickman CEO Freddie Mac 1551 Park Run Drive Mclean, VA 22102 Dear Director Calabria, Executives Frater and Brickman: We are writing …
FHFA Re-Proposed Capital Rule for the Enterprises Sign-on Letter Read More »
Mortgage data reveals disparities in Asian American and Pacific Islander lending
The research, from the National Community Reinvestment Coalition (NCRC), sheds new light on the experience of several groups within the AAPI community that have long accused lenders of predatory practices and discrimination.
NCRC, Local Groups and City of Toledo Sue CFPB to Overturn Rule That Undermines Detection of Discrimination in Mortgage Lending
By Raising Reporting Thresholds, CFPB Rule Blocks Access to Data That is Critical to Uncovering Housing Discrimination
COVID-19 and the CFPB Consumer Complaint Database
Local businesses are devastated and state agencies overwhelmed as people stay at home to preserve their health and apply for government assistance to maintain financial solvency. An unexpected side effect of this was a simultaneous increase in consumer complaints filed with the Consumer Finance Protection Bureau (CFPB).
NCRC condemns CFPB move to gut payday loan restrictions
Today, the Consumer Financial Protection Bureau (CFPB) issued a small-dollar loan final rule that will strip away protections that had been the hallmark of the original 2017 rule.
Preliminary Analysis of 2019 HMDA Mortgage Lending Data
The Consumer Financial Protection Bureau (CFPB) released the 2019 Home Mortgage Disclosure Act (HMDA) data on June 24, 2020, detailing mortgage lending information from nearly all lenders in the United States. HMDA offers details on 9.3 million originations resulting from over 17.5 million applications.
NCRC statement on Supreme Court Consumer Financial Protection Bureau ruling
Today, the Supreme Court ruled that the Consumer Financial Protection Bureau’s (CFPB) structure is unconstitutional. The ruling ended what was supposed to be the director’s total independence from the president, by giving the president the authority to fire the director at will.
Mortgage data reveals disparities in same-sex lending
Same-sex couples paid higher interest rates and closing fees on home loans, a new analysis found.
Limiting Interest Rate and Rate Spread Outliers in HMDA Data
The Consumer Finance Protection Bureau (CFPB) included a number of new datapoints in the 2018 release of the Home Mortgage Disclosure Act Data (HMDA), which came out in September 2019.
New HMDA Data Reveals Racial Disparities in Older Adult Lending
NCRC’s new report, Mortgages and Older Adults After COVID-19, used this new information to highlight trends in homebuying, aging in place and use of home equity.
What is Mortgage Forbearance and How are Fannie Mae and Freddie Mac Making it Happen
Help for homeowners is a major part of the CARES Act, the law recently passed to support our economy as we deal with the COVID-19 pandemic.
