Federal Register

Biden-Harris Administration Steps up Efforts to Narrow Racial Wealth Gap

The Biden-Harris Administration is announcing additional steps to end discrimination and bias in the housing market. “More than 50 years since the Fair Housing Act’s passage, access to wealth through homeownership remains persistently unequal,” administration officials stated. “In his first week in office, President Biden issued a memorandum directing the U.S. Department of Housing and Urban Development (HUD) to address discrimination in our housing market.”

Will proposed CRA rule help or hurt Black America?

Amid the tinsel and garland celebrating the holiday season, two important federal financial regulators are planning how the future financial needs of low-and-moderate income (LMI) communities – including neighborhoods of color – will be met.  In an effort to “modernize” the 1977 Community Reinvestment Act (CRA) on December 12 the board of the Federal Deposit Insurance Corporation (FDIC) endorsed a proposed Notice of Public Rulemaking (NPR) offered by the Office of the Comptroller of the Currency (OCC). 

New National Poll Finds Consumers Still Want Financial Regulation

The 2018 poll, conducted by Lake Research Partners and Chesapeake Beach Consulting, found that among respondents more than 90 percent viewed regulation of financial services to be very important, and registered support across partisan affiliations. Among Republicans, 85 percent supported regulation, compared to 92 percent of independents and 96 percent of Democrats.

State AGs to DeVos: Work with, Not Against, State Law Enforcement

Starting last summer, student loan servicers like Navient have been lobbying DeVos to shield them from liability for their practices. And it’s worked. Despite objections from a bi-partisan group of Attorneys General (AGs), the National Association of Governors, and the Conference of State Bank Supervisors, DeVos and the Department of Education have increasingly made it more difficult for state and federal law enforcement agencies to do their jobs by retracting information sharing agreements with the Consumer Financial Protection Bureau (CFPB) and instructing servicers not share student loan information with state law enforcement and banking supervisors.