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Consumer Financial Protection Bureau moves to limit home loan data

Thursday, May 2, 2019
Aaron Glantz and Emmanuel Martinez | Reveal
Melissa Stegman

Want to know which banks target people of color for loans with high interest rates, steep fees or reverse mortgages?

Or which banks deny home loans to African Americans and Latinos even when their income shows they could easily cover the monthly payment?

You won’t be able to find out if new regulations proposed by the Consumer Financial Protection Bureau go through. The Trump administration on Thursday announced its intention to roll back rules adopted in 2015 under President Barack Obama, which dramatically expanded the public’s access to home mortgage information. At the same time, the CFPB said it planned to limit the number of banks that have to report the race and gender of consumers who get – and are denied – loans.