The Office of the Comptroller of the Currency says it expects national banks to begin evaluating the new Home Mortgage Disclosure Act data they are collecting to see if their loan pricing appears to be discriminatory."We are in the process of contacting a group of national banks that include high-volume mortgage lenders," said Julie Williams, the OCC's general counsel. If they are not analyzing the first- and second-quarter HMDA data, the OCC will "tell them" to begin. Or the OCC may conduct its own analysis, she told a Consumer Bankers Association fair-lending conference. The OCC official stressed that national banks need to be prepared to explain to the public next summer that the 2004 HMDA data do not show discriminatory lending patterns, or else the reputations of individual institutions and the banking industry could be damaged. Ms. Williams also warned that the OCC will take appropriate actions if it receives evidence from HMDA reports or other credible sources of fair-lending violations.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
April 19 -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
April 19 -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
April 19 -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
April 19 -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
April 19 -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18