The U.S. Department of Justice (DOJ) announced recently that through its “Combatting Redlining Initiative,” it has secured more than $107 million in relief for communities nationwide experiencing lending discrimination. Attorney General Merrick Garland declared, “This work is just the beginning - the Justice Department currently has over two dozen active investigations into redlining, spanning neighborhoods [...]
On October 24th, the Office of the Comptroller of Currency, Federal Reserve Board, and the Federal Deposit Insurance Corporation issued a final rule to strengthen and modernize the Community Reinvestment Act (CRA). This revision to the CRA regulation, the first comprehensive update since 1995, was issued with the following stated goals: Encourage banks to expand [...]
Welcome to our redesigned HMDA Huddle. We've given our quarterly look at lenders' HMDA challenges a new look and added resources for those who want to take an even deeper dive. In this issue, we answer questions about rate spread calculations; abandoned applications, policy considerations, and counteroffer challenges. Click through to check out the latest [...]
