Fair Lending

Cities Press Banks On Lending To Poor
   Legislation requiring banks that hold city government deposits to provide detailed accounts of their lending practices in poor neighborhoods gets approval in three major cites and scrutiny in four others.
posted 6/6/12 4:37 PM  read complete story

CFPB Will Punish Servicers For Missteps
   Richard Cordray wasted no time wielding the broad authority he inherited as the new director of the Consumer Financial Protection Bureau, its first official leader. Cordray targets mortgage servicing near the top of his list for reform by issuing a proposal for tough new rules for
posted 4/12/12 3:54 PM  read complete story

(BANK BIAS SETTLEMENT) Bank Settles Countrywide Bias Charges
   Bank of America agrees to settle a fair-lending complaint against subsidiary Countrywide Financial for $335 million. The Justice Department alleged that Countrywide discriminated against black and Hispanic borrowers during the housing boom. The pattern and policy covers
posted 12/21/11 5:05 PM  read complete story

(MORTGAGE FINANCE) Financial Reform Broadened
   Democrats leading negotiations regarding reform of the financial industry add a measure approved in the House in 2009 to create new restrictions on mortgage lending. The move adds more than
posted 6/18/10 12:31 PM  read complete story

(BANKING) Governor Mulls Lending Law
   Legislation giving the Oregon attorney general the power to prosecute banks and lenders under the state's consumer protection laws is on Gov. Ted Kulongoski's desk after it cleared the state
posted 3/5/10 12:57 PM  read complete story

(COUNTRYWIDE) Countrywide Pays Florida Borrowers
   More than 2,700 Countrywide Financial borrowers are sent a total of $16.9 million of foreclosure relief payments arranged in a settlement reached with the state attorney general about
posted 2/19/10 11:21 AM  read complete story

(PREDATORY LOANS) Fair Lending Unit At Justice
   Responding to the plethora of predatory lending that helped lead the nation into its housing and economic crisis, the Justice Dept. creates a fair lending unit within its Civil Rights Division.
posted 1/22/10 12:32 PM  read complete story

(MORTGAGES) Mortgage Firms Under HUD Fire
   HUD's inspector general issues subpoenas to 15 mortgage firms seeking information about failed home loans that resulted in claims against the Federal Housing Admin.'s mortgage insurance
posted 1/15/10 1:08 PM  read complete story

(LAWSUIT) Reverse Redlining Suit Dismissed
   A federal judge has dismissed a case built on allegations of predatory and racially discriminatory practices at mortgage lending firm Wells Fargo. U.S. District Court Judge J. Frederick Motz tossed
posted 1/15/10 12:25 PM  read complete story

(SENIORS) Seniors Targeted In Abusive Lending
   A new report finds that predatory lending practices common in the subprime market during the housing boom are creeping into reverse mortgage sales. But even the report's authors concede the
posted 10/16/09 12:43 PM  read complete story