Banking

Borrowers must be protected against discrimination at all steps of the credit process — including after they’ve already been granted credit, the regulator affirmed.

The Consumer Financial Protection Bureau filed more actions against redlining and discriminatory practices in 2021 and is skeptical that that predictive analytics will reduce bias.

Multiple factors have slowed residential sales, tightening the market for home loans for banks and credit unions.

Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

Johnson, who currently heads a housing-finance industry group, will take over this summer from longtime president and CEO Richard Hunt.

During the pandemic, consumer lenders have found it easier to collect payments because the federal student loan moratorium has made many borrowers more liquid. A plan for blanket forgiveness reportedly under consideration by President Biden could sustain that trend.

Bankers object to the Consumer Financial Protection Bureau's request on “exploitative junk fees” that produce billions in income for financial institutions, arguing that banks are compliant with statutes that require fees be disclosed to customers.

In a recent survey, just over half of community bankers expressed concern that the central bank will harm the U.S. economy by raising rates too fast in its quest to contain inflation.

The Consumer Financial Protection Bureau will conduct supervisory exams of nonbank fintech companies that pose risks to consumers as Director Rohit Chopra seeks to level the regulatory playing field with supervised banks.

Health care, home improvement, cannabis, gaming and college students are among the areas banks are targeting with the help of innovative tools.