Federal bank regulators issued proposed guidelines for banks and other mortgage lenders to craft policies around reconsideration of value requests. The move is the latest aimed at rooting out bias in home appraisals.

The FDIC gave Cadence Bank in Mississippi the highest possible rating on its most recent Community Reinvestment Act evaluation. Cadence was the product of a 2021 merger completed just months after the acquired bank settled a federal lending discrimination case.

Chatbots may provide inaccurate information, may run afoul of consumer financial protection laws and may force consumers into "repetitive loops of unhelpful jargon," the Consumer Financial Protection Bureau warned.

Wells Fargo is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans.

The Consumer Financial Protection Bureau issued only 20 enforcement actions in 2022, but some observers say the enforcement numbers belie the results that director Rohit Chopra is getting from other ways of holding companies accountable.

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.

Federal Reserve Board Gov. Philip Jefferson, who has been tapped to serve as vice chair of the central bank, said the new rules will standardize capital requirements and increase transparency.

The Consumer Financial Protection Bureau said the Evansville, Indiana, installment lender had engaged in "unfair, deceptive and abusive acts and practices," and failed to reimburse interest to consumers who had cancelled certain add-on products.

The Federal Deposit Insurance Corp. said in its quarterly banking profile that the banking industry remains resilient despite a challenging economic backdrop, but exposure to commercial real estate losses and interest rate risks could make continued stability difficult.

People in the industry use the terms interchangeably, but Washington State is warning brokers that they are not the same and other regulators could follow.

House Financial Services Committee ranking member Maxine Waters, D-Calif., attempted to find bipartisan support from Rep. Andy Barr, R-Ky., for a number of amendments to bills meant to rein in regulators. What she got instead was a commitment to work on some measures in the future.

Recent bank troubles mean agency MBS, multifamily and jumbo mortgage activity are set for changes, analysts said at an industry conference.

Some stakeholders have worried about the estimated date for the transition to a new way of calculating credit worthiness, but an official assured attendees at an industry conference that the agency won't act prematurely.

The Federal Reserve chair waved off suggestions that recent bank failures demonstrate a need to better separate its authorities. He also noted the importance of clear communication by central bank officials.

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

Former First Republic CEO Michael Roffler, in his first public comments since the failure of the bank, said changes to deposit insurance would be worthwhile for Congress to consider.

Attorneys for the wholesale giant deny its hiring agreements are unlawful, and have floated settlement terms with the National Labor Relations Board.

Treasury Secretary Janet Yellen defended the administration's systemic risk exception and said regulators will backstop small banks that pose contagion risk.

More than 140 current and former lawmakers are defending the constitutionality of the agency's funding arrangements. The nation's highest court is expected to rule on the issue in its upcoming term.