The Consumer Fraud Protection Bureau has released its 2016 Fair Lending Report detailing the agency’s priorities, supervision and enforcement actions on behalf of consumers last year.
- The agency’s Fair Lending supervisory and public enforcement actions resulted in approximately $46 million in remediation to harmed consumers.
- The Office of Fair Lending focused on redlining risk, evaluating whether lenders have intentionally discouraged prospective applicants in minority neighborhoods from applying for credit.
- The agency’s mortgage origination work last year covered institutions responsible for close to half of the transactions reported pursuant to the Home Mortgage Disclosure Act, and more than 60 percent of the transactions reported by institutions subject to the CFPB’s supervision and enforcement authority.
Read the report in its entirety on the CFPB’s website.