Eight trade associations request that the Department of Housing and Urban Development and the Consumer Financial Protection Bureau clarify and create guidance related to their use of the disparate impact theory to determine discrimination.
The CFPB launches the nation’s largest database of federal consumer financial complaints. Bureau officials said the database will be used to prioritize its investigations, among other things.
In a bulletin issued today, the CFPB warned banking institutions that they could be on the hook for discriminatory markups imposed by dealers. The bureau’s notice also contains guidance on how finance sources should address fair lending risk.
In a party line vote, the Senate Banking Committee approved the nomination of Richard Cordray to his five-year term as director.
Senate Banking Committee Chairman Tim Johnson advocated for Consumer Financial Protection Bureau Director Richard Cordray to retain his position at a hearing March 12. A vote on the nomination will be held at a later date.
Steven Antonakes assumes the role of acting deputy director of the Consumer Financial Protection Bureau, a position formerly held by Deputy Director Raj Date.
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