A court pretending it’s legal for a mortgage lender to label Black neighborhoods “scary” “jungles” to be avoided was “an act of cynical politics masquerading as high-minded jurisprudence.”
A poorly reasoned court decision threatens to upend key elements of federal fair lending law, inviting lenders to discriminate against would-be borrowers.
Court’s Decision in Townstone Financial Gives A Green Light to Discriminatory Lending Read More »
The National Community Reinvestment Coalition (NCRC) on Wednesday applauded a $24 million settlement to punish serious intentional discrimination and redlining in the Philadelphia area, and urged the courts to endorse disciplinary action against Berkshire-Hathaway subsidiary Trident Mortgage Company proposed by the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB). “Lending discrimination is a
Though blacks and whites represent similar shares of the population in the Philadelphia metro area, Reveal found white borrowers received 10 times as many conventional home loans as black ones.
Reveal: Community groups propose redlining solutions to Philadelphia City Council Read More »
Researchers at NCRC compared HOLC maps, the most comprehensive documentation of discriminatory lending practices, with modern-day census data to determine how much neighborhood demographics have changed in 80 years.
Community banks and consumer advocates are clashing over a provision in the Senate banking bill on mortgage data reporting, but there’s been little vetting of what the measure would actually do.
American Banker: Will HMDA data carve-out for small banks make discrimination easier? Read More »
As the Trump administration withdraws from enforcing consumer protection and fair lending law, state attorneys general are stepping into the breach.
Reveal: State attorneys general probe lending disparities Read More »
Aaron Klein looks at what is to like and not like in a bipartisan bill to amend Dodd-Frank.
Brookings: Bipartisanship in banking is back Read More »
