BuckleySandler's Warren W. Traiger has some thoughts in the American Banker here (free content).
Category Archives: Credit Reporting
by Jeff Sovern Here (behind paywall). Excerpt: In 2013, a loan officer at BancorpSouth Bank's Madison, Ala., branch received visits from two people with similar profiles within 10 days of each other, both saying they were first-time home buyers — one white, the other black. The employee allegedly steered the black customer to a smaller […]
We received the following announcement: The Section on Financial Institutions and Consumer Financial Protection is pleased to announce a Call for Papers from which up to two presenters will be selected for our program to be held during the AALS 2017 Annual Meeting in San Francisco on Friday, January 6, 2017 at 8:30 a.m. The topic […]
Here. From the Executive Summary: NCRC has found an extensive mortgage lending imbalance in St. Louis, with mortgage credit distribution heavily swayed by income levels and the racial makeup of neighborhoods. These trends are noteworthy, especially within the City of St. Louis. While median family income is a crucial factor, lending is concentrated in majority […]
SCOTUSBLOG coverage here and here. Reuters reports here. The Reuters lead reads: "The U.S. Supreme Court on Tuesday agreed to decide whether Miami can pursue lawsuits accusing major banks of predatory mortgage lending to black and Hispanic home buyers resulting in loan defaults that drove down city tax revenues and property values." HousingWire has more […]
Christopher P. Guzelian of Thomas Jefferson, Michael Ashley Stein of Harvard Law School and the University of Pretoria Faculty of Law, and H. S. Akiskal of UC San Diego Department of Psychology have written Credit Scores, Lending, and Psychosocial Disability, 95 Boston University Law Review 1807 (2015). Here is the abstract: Credit scores have become a […]
In a speech February 25 at the CFPB's Consumer Advisory Board meeting, CFPB Director Richard Cordray identified nine "key areas where we hope to make substantial progress over the next two years." He also noted, however, that "these goals do not capture all of the important work we are doing." The nine goals are: First, […]
My colleague, Marc DeGirolami, read through the Spokeo oral argument transcript and had the following observations. I thought they might be of interest to readers of the blog. * Justice Kagan emphasized to counsel for Spokeo that the reporting/dissemination of false information in credit reports is itself plausibly described as a harm. So that […]