The Consumer Financial Protection Bureau’s fair lending team in 2017 will focus on redlining, mortgage and student loan servicing, and small-business lending, the agency wrote in a blog post. The CFPB said it has made progress in the credit card and auto-lending markets and will shift its focus in the coming year on the areas of greatest risk to consumers.
ICBA strongly supports equal access to credit and condemns discrimination, but is working to mitigate the regulatory impact on community banks as the CFPB extends its focus to small businesses and student loans. Read the Blog Post.