Law and regulation

Nearly 25 years after a landmark deal and two subsequent legislative overhauls, glitches in the credit reporting system remain widespread. But while regulators and law enforcement officials are again raising the stakes for the credit reporting industry, critics fear it may not be enough.

The Supreme Court's recent ruling that the disparate impact theory of liability can be applied to the Fair Housing Act means mortgage lenders must be even more vigilant in their ongoing testing and evaluation of business practices that could be interpreted as even unintentional discrimination.

BOK Financial has hired Glenn Brunker to oversee mortgage operations and manage the bank's transition to a new federally required consolidated mortgage disclosure regime.

The Leadership Conference on Civil and Human Rights wants to recapitalize Fannie Mae and Freddie Mac to provide a secure source of funding for affordable housing.

The Supreme Court decision making same-sex marriage legal nationwide could boost mortgage demand as it provides gay and lesbian couples with more financing opportunities and stronger joint property rights.

Despite some silver lining, analysts say the Supreme Court decision upholding "disparate impact" in fair-lending disputes will only embolden activists and regulators to bring more cases.

The Consumer Financial Protection Bureau went forward with a controversial move Thursday to include narratives in its complaint database.

A senior civil rights official at the Consumer Financial Protection Bureau is poised to tell Congress Thursday that the agency willfully disregards the process for handling internal employee complaints of discrimination and has repeatedly retaliated against staff who spoke out.

Two groups representing small and mid-size lenders say new proposed state mortgage servicing standards for nonbanks will add an unnecessary layer of regulatory burden, especially for firms servicing Fannie Mae and Freddie Mac loans.

The Consumer Financial Protection Bureau's new mortgage integrated disclosure rules will now take effect Saturday, Oct. 3, two days later than the previously rescheduled Oct. 1 deadline.