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Equal Credit Opportunity Act needed to end credit discrimination

Equal Credit Opportunity Act needed to end credit discrimination By: Donna LoStocco Donna LoStocco On March 9th, the U.S. Consumer Financial Protection Bureau issued an interpretive rule clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act means that lenders cannot discriminate based on sexual orientation or gender identity. This was welcome news, but it is not enough. Federal legislation is needed to remove any confusion about what is and what is not credit discrimination. As the President and CEO of First Commonwealth Federal Credit Union, I am all too aware of the great importance of loans to help all Americans – especially low and middle income individuals and families – achieve their dreams of home ownership. Most lenders would agree with the basic premise that our industry should not stand for credit discrimination. I’d even suggest that credit discrimination harms our community’s attempts to empo

U S CFPB scrutinizes Texas mortgage firm s 100s of thousands of duplicate payments

U.S. CFPB scrutinizes Texas mortgage firm s 100s of thousands of duplicate payments Reuters 3 hrs ago By Katanga Johnson © Reuters/Andrew Kelly FILE PHOTO: Signage is seen at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C. By Katanga Johnson WASHINGTON (Reuters) - The U.S. Consumer Financial Protection Bureau (CFPB) said on Tuesday it was taking immediate action to understand and resolve how hundreds of thousands of mortgage borrowers bank accounts were debited for duplicate payments after a mortgage servicer announced the error on Monday. Texas-based Mr. Cooper, which is the largest U.S. non-bank mortgage servicer, announced an unauthorized April 24 discovery of duplicate-payment drafts from some of its borrowers bank accounts in a blog post, adding that it was working on reversing what it called a payment-processing issue.

NFL s Brandon Copeland headlines WDM Black and Brown Business Summit

Unlike other speakers at this week s West Des Moines minority business summit, Brandon Copeland comes from a line of work in which the bosses inspect new employees in their underwear. Managers demand the unvarnished truth. How the fat jiggles. How the muscles tense. How effectively, when that fat and those muscles move at full velocity for four to six seconds, the prospective employee can assault the ribs of another company s employee. I use my body to make money, Copeland, 29, told the Des Moines Register, pausing for a beat. I sound like a stripper. But Copeland is not a stripper no matter how well he controls his body. He s an eight-year NFL veteran. 

U S debt collectors must tell delinquent renters about eviction protections

U.S. debt collectors must tell delinquent renters about eviction protections Reuters 4/19/2021 By Katanga Johnson © Reuters/Andrew Kelly FILE PHOTO: Signage is seen at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C. By Katanga Johnson WASHINGTON (Reuters) - Debt collectors pursuing Americans for overdue rent must tell them in writing about their rights under a nationwide eviction ban, the U.S. Consumer Financial Protection Bureau (CFPB) said on Monday. The new interim final rule takes effect on May 3 and seeks to make sure tenants know about protections against eviction under a nationwide moratorium issued https://www.reuters.com/world/us/us-cdc-extends-eviction-ban-through-june-30-document-2021-03-29 by the Centers for Disease Control and Prevention (CDC). That measure, introduced to limit the spread of COVID-19, has been extended to June 30.

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