Federal Court Tosses Relaxed Trump-Era Mortgage Lender Transparency Rule

HousingWire, Sept. 30, 2022–Chris Clow
The D.C. District Court found that the CFPB, under Trump appointee Kathy Kraninger, acted in an “arbitrary and capricious” manner by exempting mortgage lenders from reporting obligations under the Home Mortgage Disclosure Act (HMDA) designed to help combat fair lending and fair housing violations, including redlining. While the rule was not entirely thrown out, the coalition of community groups characterized the decision as a “vindication.”