By KIMBERLEY HAAS Vice President Kamala Harris joined officials from the U.S. Department of Housing and Urban Development on Wednesday to announce the delivery of a plan designed to dismantle racial bias in the home lending and appraisal process. The Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) Action Plan submitted to President…
By KIMBERLEY HAAS The Consumer Financial Protection Bureau is targeting discrimination and officials there plan to closely examine financial institutions’ decision-making practices to ensure companies are appropriately testing for and eliminating potential harm to customers. On Wednesday, an updated exam manual was published for evaluating unfair, deceptive, and abusive acts or practices. Officials said in…
By JARED WHITLEY The Neighborhood Assistance Corporation of America (NACA) has announced a lending program for minority-owned businesses it calls “Economic Justice Loans,” with the stated goal of helping historically underserved populations build generational wealth. The political-progressive organization’s action raises the question of whether people of color are still being denied access to credit in 2022. “This…
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