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Six regulatory agencies are seeking public comment on a proposed rule that would establish best practices for using automated valuation models to assess collateral.

The Stroudsburg, Pennsylvania-based financial institution, from 2017 to 2021, did not sufficiently serve the credit needs of majority-Black and Hispanic neighborhoods in and around Philadelphia, the DOJ alleges.

Also, Polly appoints two new chief officers, Supreme Lending adds marketing leader and Regions Bank welcomes affordable housing finance expert.

The Trump administration official announced that she will step into the role of senior adviser to the House Financial Services Committee.

Artificial intelligence can help cut bias out of credit models. The Consumer Financial Protection Bureau should make it easier for lenders to adopt it.

The bank is focusing on pre-seed companies that specialize in fintech or other forms of technology and have diverse founders.

Gov. Jay Inslee has signed a law that will offer loans to minority borrowers to help cover down payments and closing costs. Supporters say it will benefit groups that were victimized by racially restrictive real estate covenants.

The Philadelphia-based company will eliminate an undisclosed number of jobs as part of a plan to refocus on core business lines and markets, CEO Thomas Geisel said.

Lenders and brokers have slashed two-thirds of the positions added since 2020, but the question now is whether reducing staffing to the level seen that year will be enough.

The Cleveland-based bank says it will submit to a racial equity audit conducted by an outside law firm, as Citigroup and Wells Fargo have previously done. The bank's decision follows a request that regulators investigate Key's mortgage lending practices for alleged redlining.