There is no silver lining it seems when it comes to redlining.
Redlining describes the illegal practice when government agencies or private institutions systematically exclude certain groups of people or selectively raise the prices of goods and services for them. The most notable example is how the United States government and private banks intentionally denied African Americans home loans based on race through much of the 1900s. In other words,
mortgage discrimination.
A new study by Oakland-based policy institute The Greenlining Institute has found that Black, Latino and Native American borrowers still receive fewer home purchase loans than white borrowers. White borrowers receive more mortgage loans than Black and Brown borrowers, regardless of population or income.
WASHINGTON (Legal Newsline) – Affordable housing groups are asking a federal judge to grant them victory over a federal agency over a rule published in May that changes certain business practices.
The plaintiffs, led by the National Community Reinvestment Coalition, filed their motion for summary judgment on Dec. 11 in D.C. federal court, calling the new rule “an arbitrary and capricious application of” the Consumer Financial Protection Bureau’s authority.
The coalition takes issue with the CFPB’s Home Mortgage Disclosure (Regulation C) that was published May 12. It raises the loan-volume thresholds at which financial institutions are required to report data about closed-end mortgage loans and open-end lines of credit.
The CFPB has published its
Fall 2020 rulemaking agenda as part of the Fall 2020 Unified Agenda of Federal Regulatory and Deregulatory Actions. It represents the CFPB’s fourth rulemaking agenda under Director Kraninger’s leadership. The agenda’s preamble indicates that the information in the agenda is current as of September 11, 2020 and identifies the regulatory matters that the Bureau “reasonably anticipates having under consideration during the period from November 2020 to November 2021.”
The Bureau issued its
issued a supplemental proposal that would require debt collectors to make specified disclosures when collecting time-barred debts. The Bureau indicates in the preamble that it plans to finalize its supplemental proposal regarding disclosures for time-barred date this month.
OAKLAND (CBM) – There is no silver lining it seems when it comes to redlining.
Redlining describes the illegal practice when government agencies or private institutions systematically exclude certain groups of people or selectively raise the prices of goods and services for them. The most notable example is how the United States government and private banks intentionally denied African Americans home loans based on race through much of the 1900s.
A new study by Oakland-based policy institute The Greenlining Institute has found that Black, Latino and Native American borrowers still receive fewer home purchase loans than white borrowers. White borrowers receive more mortgage loans than Black and Brown borrowers, regardless of population or income.
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