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Consumer Lenders Low-Income Issues

Goodwin

Traps for the Unwary: Using Alternative Credit Data to Expand Credit Access to LMI Individuals and Underrepresented Communities

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Traditional credit underwriting methods, which are generally based on credit reports, have not always successfully captured the full picture of a borrower’s ability to repay. It is estimated that more than 45 million US...more

GeoDataVision

New CRA Retail Lending Test Benchmarks

GeoDataVision on

The Retail Lending Test in the new CRA will measure bank performance against “market” benchmarks (lending activity reported by other lenders) and “community” benchmarks” (community demographics). Many bankers, although not...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The Impact of New Developments in Payment Systems on Low-Income Consumers

Ballard Spahr LLP on

Our special guest is Mark Budnitz, Professor Emeritus, Georgia State University College of Law. In an article recently published in the Georgetown Journal on Poverty Law and Policy, Prof. Budnitz explores the impact on...more

Robins Kaplan LLP

Financial Daily Dose 12.17.2019 | Top Story: USMCA Back on Track After Last-minute Wrangling

Robins Kaplan LLP on

The United States and Mexico appear poised to move past a last-minute snag over new language on Labor Department attaches to posts in Mexico. Mexico feared that the diplomats would “act as labor inspectors,” and for a day or...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Hiding somewhat in the shadows during the rise of virtual currencies over the past year or two has been blockchain, the ledger technology that undergirds bitcoin and other cryptos, and its potential application beyond digital...more

Ballard Spahr LLP

OCC seeks comment on modernizing CRA regulatory framework

Ballard Spahr LLP on

The Office of the Comptroller of the Currency (OCC) has issued an advance notice of proposed rulemaking (ANPR) on which it invites public comment “to solicit ideas for building a new framework to transform or on ways to...more

Troutman Pepper

CRA-like Standards for Fintechs Could Reduce Access to Credit

Troutman Pepper on

As reported in American Banker, consumer advocacy groups are concerned that financial inclusion expectations for fintechs chartered as special-purpose national banks may not perfectly mirror the requirements of the Community...more

Ballard Spahr LLP

Treasury issues recommendations for modernizing the CRA

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The U.S. Department of the Treasury has issued a memorandum in which it makes recommendations to modernize the Community Reinvestment Act (CRA). ...more

Downs Rachlin Martin PLLC

News From the Vermont Statehouse - An Analysis from DRM’s Government & Public Affairs Team - April 2017

Trial Bar Proposes Anti-Ride-Sharing Amendments to Insurance Bill - The Senate Judiciary Committee considered amendments this week proposed by the Vermont Trial Lawyers Association that would likely force Uber out of...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more

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