The Federal Reserve System, through its Consumer Compliance Outlook platform, recently hosted its annual Fair Lending Interagency Webinar. During the session, a variety of fair lending topics were discussed, including...more
The Senate Banking Committee recently held a hearing entitled, “Fairness in Financial Services: Racism and Discrimination in Banking.” The hearing was held to discuss historical and ongoing discrimination in the financial...more
Recently, the Federal Housing Finance Agency (FHFA) announced the approval of two new credit scoring models, the FICO 10T and the VantageScore 4.0 for use by Fannie Mae and Freddie Mac (the GSEs or Enterprises). Lenders will...more
On August 10, 2022, four Senators, Elizabeth Warren (D-MA), Dick Durbin (D-IL), Sheldon Whitehouse (D-RI), and Bernie Sanders (I-VT), sent a letter to Acting Comptroller of the Currency Michael Hsu, asking him to reverse four...more