On March 16, 2022, the Consumer Financial Protection Bureau (CFPB) issued a press release and an updated UDAAP exam manual setting forth its intentions to use the Consumer Financial Protection Act's (CFPA) prohibition against...more
The Consumer Financial Protection Bureau (CFPB) has been very clear that fair lending and racial equity are top priorities for the agency under Acting Director Dave Uejio. Support of those priorities will be far-reaching. ...more
Update: On May 17, 2021, the agencies extended the deadline for comments from June 1, 2021, to July 1, 2021. The text of this post has been updated accordingly....more
The federal financial institutions regulatory agencies collectively issued a Request for Information and Comment (RFI) on March 31, 2021, to better understand how artificial intelligence (AI) and machine learning (ML) are...more
On March 9, 2021, the Consumer Financial Protection Bureau (CFPB) issued an Interpretive Rule clarifying that the Equal Credit Opportunity Act (ECOA) and Regulation B prohibit discrimination based on: Sexual orientation;...more