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Regulatory

Federal agency enforcement actions, rulemaking, and regulatory developments. Coverage of the SEC, FTC, CFPB, CFTC, OSHA, FDA, and other agencies shaping compliance and industry standards.

Regulatory
•4 min read

CFPB Takes Action Against Draper & Kramer for Discriminatory Lending

The Consumer Financial Protection Bureau has taken enforcement action against Draper & Kramer Mortgage Corporation for allegedly engaging in discriminatory lending practices that discouraged homebuyers from seeking mortgages in predominantly Black and Hispanic neighborhoods in the Chicago and Boston metropolitan areas.

•CFPB filed enforcement action against Draper & Kramer Mortgage for discriminatory lending practices
•Allegations focus on discouraging mortgage applications in majority-Black and Hispanic neighborhoods
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Regulatory
•4 min read

CFPB Fines Equifax $15 Million for Inadequate Credit Dispute Investigations

The Consumer Financial Protection Bureau ordered Equifax to pay $15 million for failing to properly investigate consumer disputes regarding credit reporting errors. The enforcement action addresses the credit bureau's inadequate procedures for handling consumer complaints about inaccuracies.

•CFPB imposed $15 million penalty on Equifax for inadequate dispute investigations
•Action stems from Equifax's failure to conduct proper reviews of consumer credit reporting disputes
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