Author name: Ricky Vasquez

Russell Vought

CFPB sued over new rule that would weaken fair-lending laws

Russell Vought, acting director of the Consumer Financial Protection Bureau.Bloomberg News Processing Content Key insight: The new CFPB rule protects lenders from being penalized for unintentional discrimination, including in cases involving automated algorithms and credit models. What’s at stake: The new rule narrows the legal definition of “discouragement,” making it easier for banks to avoid

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Wells Fargo set to originate mortgages for 3D-printed homes

3D home development received a stamp of approval this week within the mortgage industry thanks to a new lending agreement between Wells Fargo Bank and technology construction firm Icon.  Processing Content The two companies announced a deal that makes the San Francisco-based banking giant the preferred lender for new 3D-printed residential properties built by Icon.

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