This week, we’re releasing our fifth Fair Lending Report. Read about the actions we took last year to protect people from credit discrimination and what we plan to do this year.
We are seeking comment on our proposal to clarify, make technical corrections, and minor changes to the data that financial institutions are required to collect and report about their mortgage lending, which will improve the quality of mortgage data available to the public.
Proposal Would Clarify Requirements and Help Companies Comply
The Consumer Bureau is proposing changes to Regulation B to help mortgage lenders and is looking for your feedback
Bureau’s $1.75 Million Civil Penalty for Persistent and Substantial Reporting Errors is the CFPB’s Largest Penalty to Date for HMDA Violations
CFPB Puts 44 Mortgage Lenders and Brokers on Notice That They May Be Required to Report Mortgage Data
Federal Financial Institutions Examination Council Announces Availability of 2015 Data on Mortgage Lending
The FFIEC today announced the availability of data on mortgage lending transactions at 6,913 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies.
Prepared Remarks of Richard Cordray, Director of the CFPB, at the National Association of Federal Credit Unions
Good morning and thank you for having me join you today. For five years now, the Consumer Financial Protection Bureau and America’s credit unions have had the opportunity to work together on behalf of all Americans. Our responsibility is to support and protect consumers. For credit unions, these same people are more than your customers; they are your members. We share many goals in common as we pursue our respective objectives, and we have a considerable stake in one another’s success.
An important part of the CFPB’s mandate from Congress is to make rules governing consumer finance markets more effective and to create new rules when warranted. Today, we’re posting a semiannual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.