General World News

Federal court tosses relaxed Trump-era mortgage lender transparency rule

A federal judge has ruled in favor of a coalition of community housing groups against the Consumer Financial Protection Bureau (CFPB), vacating part of a Trump-era rule that impacted the reporting obligations of certain mortgage lenders.

The D.C. District Court found that the CFPB, under Trump appointee Kathy Kraninger, acted in an “arbitrary and capricious” manner by exempting mortgage lenders from reporting obligations under the Home Mortgage Disclosure Act (HMDA) designed to help combat fair lending and fair housing violations, including redlining. While the rule details ⇒

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