American Bank of Oklahoma agreed to a consent order in August to settle allegations from the Department of Justice over redlining. However, the institution strenuously objected to references to the Tulsa Race Massacre in the agreement and asked that the language be stricken.

At a Senate Banking subcommittee meeting, Republican and Democratic lawmakers both promoted the mission of community development financial institutions and warned of upcoming threats to their funding and proposals to revamp the CDFI certification process.

Not only could warehouse lines of credit be impacted by the U.S. version of international Basel rules, and financing secured by mortgage servicing rights may be, too.

The bank argues federal law preempts a New York state statute requiring at least 2% interest payments on borrowers' accounts.

The Consumer Financial Protection Bureau and the Justice Department warned banks and other lenders that credit applicants cannot be rejected due to their immigration status.

The Consumer Financial Protection Bureau alleged in a lawsuit that the nonbank lender violated a 2019 consent order and submitted incorrect information in 2020.

Consumer Financial Protection Bureau Director Rohit Chopra said the CFPB is enforcing a long-dormant provision of Dodd-Frank in its advisory opinion prohibiting banks from charging fees to obtain basic account information.

The Federal Reserve's top regulator cited the financial crisis of 2008 repeatedly in a speech about the merits of new risk-capital standards — proposals that have drawn unprecedented fire from banking trade groups and members of Congress.

The expansion of housing-related tax programs could be in peril because of the upheaval.

The Consumer Financial Protection Bureau plans to hire 75 employees in its enforcement division as it boosts investigations against "large market actors," according to an internal email obtained by American Banker.

Federal housing authorities persuaded Texas Capital Bancshares to help with the fallout from a bankrupt reverse-mortgage provider, then went back on their promises of financial support, the company says in a new lawsuit.

In a case challenging the funding of the Consumer Financial Protection Bureau, justices across the political spectrum questioned where — and whether — the Constitution placed limits on Congress' power to delegate funding for federal agencies outside of annual appropriations.

The bipartisan deal struck Saturday temporarily allays concerns that would've required workarounds in parts of the lending process reliant on government agencies.

The Federal Reserve Inspector General's report on the failure of Silicon Valley Bank found that officials at the Federal Reserve Bank of San Francisco wanted to remove the CEO from its board before examiners downgraded SVB's supervisory ratings.

The Department of Justice reached a $9 million settlement Wednesday with Westerly, R.I.-based Washington Trust over race-based lending discrimination and redlining in the state, saying the bank denied lending services to Black and Hispanic neighborhoods from 2016 to 2021.

The Consumer Financial Protection Bureau issued a mortgage report based on statistics from 2022 and is looking for ways to simplify the refinance process while considering changes to mortgage servicing standards.

The indictment of Sen. Bob Menendez, D-N.J., is inconvenient for some Democratic priorities, but unlikely to impact a cannabis banking bill up for debate in the Senate Banking Committee.

Federal Reserve Board Gov. Lisa Cook said artificial intelligence holds great promise for the economy, but stressed the importance of human choice in decision making, both financial and otherwise.

The Consumer Financial Protection Bureau proposed major changes to the Fair Credit Reporting Act, including eliminating all medical debt from credit reports. But banks and financial firms said the plan would upend 50 years of how courts have interpreted the law.

Kareem Saleh, CEO of "fairness-as-a-service" company FairPlay AI, walks us through key steps that must be taken to ensure automated decisioning models stay on track.