General World News

CFPB ponders how well HMDA captures discrimination

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The Consumer Financial Protection Bureau (CFPB) is launching a voluntary review of its mortgage data collection — a key tool in bringing redlining cases — to assess its effectiveness in detecting discrimination.

The evaluation of rules implementing the Home Mortgage Disclosure Act will support the CFPB in its efforts to maintain a “fair, competitive, and non-discriminatory mortgage market,” the watchdog agency said.

The CFPB wants to hear from stakeholders about “industry outcomes” as a result of the HMDA rule, including how financial institutions comply with the rule’s criteria, and the impact of changes to coverage thresholds and data points. details ⇒

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