Since the inception of the mid-20th century Civil Rights era and the implementation of racially blind laws such as the Community Reinvestment Act, we can point to little progress in bridging wealth and homeownership disparities.
Same-sex couples paid higher interest rates and closing fees on home loans, a new analysis found.
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.
While overall banks fell short of non-banks in lending to minority applicants or in LMI neighborhoods, the banks in the top 25 performed about as well as the top non-bank lenders. But even among the top banks, lending to LMI borrowers fell far behind the top non-banks.
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.
In a final indignity, Sen. Tim Kaine, D-Va., has offered a fair lending amendment, while acknowledging that the amendment probably wouldn’t get a vote
Aaron Klein looks at what is to like and not like in a bipartisan bill to amend Dodd-Frank.
Congress should be asking how to expand reporting requirements for all lenders, not end them. We need bipartisan support to end discrimination in lending, not to hide the data that exposes it.
