Racial bias

Prosecutors claim every dollar in subsidy funds from settlements equates to ten times the amount in value in home lending efforts.

The Ohio-based bank concentrated most of its lending branches in majority-white neighborhoods and did nothing to compensate for its lack of physical presence, the DOJ claims.

The filing is the most recent accusation of discrimination in the field, an issue that has drawn attention from the White House last year.

Its "enhanced" oversight procedures now include a multilayered review process and if discriminatory bias is confirmed, an appraiser "will be subject to removal," the department said

The department wants to make changes to its reconsideration of value process by giving Federal Housing Administration borrowers the opportunity to seek a second appraisal

A new state study suggests that mortgage lenders are putting up barriers to home ownership among people of color.

Nonprofit housing developer James Armstrong shook hands with West Dallas residents and some of the city's top brass on an empty field where a rare deal was done.

Bank regulators are considering a measure that would rewrite the rules implementing the Community Reinvestment Act. They should consider taking their existing rules seriously.

It came as a surprise to many housing experts that Asian, Black and Hispanic homeownership rates all jumped last year by more than 2 percentage points, according to quarterly Census Bureau data.

Major efforts are underway to eliminate discriminatory practices in property valuations.

Methods to combat the discrimination include lender disclosures explaining the process, industry guidance around reconsiderations of value, uniform 3D property scans and more automated valuation models easier to audit than manual valuations.

SPCPs are posed as an equitable housing solution but hesitation and confusion about them is persistent in the mortgage industry, housing finance experts said.

The trade groups, including the American Bankers Association, allege the Consumer Financial Protection Bureau exceeded its authority by claiming discrimination in any financial product violates the federal prohibition on "unfair, deceptive or abusive acts or practices."

When voters in Oakland, Berkeley and South San Francisco receive ballots in the mail next month, they'll be asked whether their cities should be allowed to help build more desperately needed affordable housing.

The country's largest banks should deepen partnerships with minority depository institutions and community development financial institutions, and regulators should facilitate that process.

Financial downturns hit lower-wealth communities first and cause them to suffer the longest.

A contested home valuation was based on the professional's "racist beliefs" and eschewed industry standards with comparisons of properties away from the majority-white neighborhood, according to the lawsuit.

First introduced in 2020, the Fair Access to Financial Services Act would require banks to serve all customers in a manner similar to existing requirements for hotels and restaurants under the Civil Rights Act of 1964.

California counties must now work to remove decades-old racist language in property records that once banned people of color from buying homes in neighborhoods across the state.