A student loan servicer reached a settlement with 39 state attorneys general, resolving claims of unfair and predatory lending practices.
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The U.S. House Financial Services Committee passed legislation to advance racial equity in the financial system, improve consumer protections against abusive debt collection practices and enhance public company disclosures.
The U.S. House Financial Services Committee considered 26 bills that are intended to remove barriers and biases that limit access to (i) capital, credit and financial services, (ii) fair housing and homeownership, and (iii) leadership opportunities in executive ranks and on boards.
The U.S. House Financial Services Subcommittee on Oversight and Investigations considered proposed legislation that would bolster the CFPB's enforcement against discrimination by lenders.
Several congressional members urged Treasury Secretary Steven Mnuchin to address liquidity challenges facing mortgage servicers in order to prevent an "impending crisis" within the mortgage servicing sector.