Processing Content Key insight: Treasury Secretary Scott Bessent backed the president’s call in his 2027 budget for a 60% reduction to the Community Development Financial Institution Fund, arguing it had a “partisan agenda.” Supporting data: The president’s budget cut more than $204.5 million from the fund’s budget for fiscal year 2027. Expert quote: “They’re sustaining […]
Bessent says CDFI Fund ‘had lost its way’ Read More »
Minneapolis-based global investment firm Castlelake LP has expanded an existing business relationship with Resfin Partners, adding dominant ownership of the company to its U.S. residential financing resources. Processing Content The purchase of a majority stake gives Castlelake more access to two Miami-based business units Resfin serves as a holding company for: Eastview, a domestic correspondent
Castlelake buys majority stake in Resfin Partners Read More »
Key insight: The CFPB claims that the Equal Credit Opportunity Act does not include statutory language that would allow for a so-called “disparate impact” test for instances of unintended discrimination. What’s at stake: The changes don’t let lenders off the hook entirely. States such as California, Massachusetts and New Jersey maintain strict anti-discrimination rules, creating
CFPB finalizes new ECOA rule in major fair lending pivot Read More »