CFPB finalizes ECOA compliance reforms, issues HMDA guidance proposal

first_img continue reading » The CFPB on Wednesday issued its final rule modifying the Equal Credit Opportunity Act (ECOA) regulations, which it says will provide added flexibility for mortgage lenders in the collection of consumer ethnicity and race information.NAFCU is reviewing the final rule and will issue a Final Regulation to members.Currently, the ECOA restricts lenders’ ability to ask consumers about race, religion, nationality or sex except as it relates to the required collection of such information for some mortgage applications, subject to certain exceptions, including Home Mortgage Disclosure Act (HMDA) reporting. The CFPB’s final rule aims to give lenders more flexibility in using consistent forms to request the information.In the association’s comments on the proposed rule changes, NAFCU raised the issue of this leading to potentially confusing, dissimilar demographic data and pointed out that the proposed rule was unclear as to the process for evaluating aggregate data. 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Taiwan explosion aftermath

first_imgStadium explosion kills two in Madagascar People carry an injured victim from an accidental explosion during a music concert at the Formosa People carry an injured victim from an accidental explosion during a music concert at the FormosaAn explosion in Taipei turned a colored powder party into an inferno, more than 510 people, including 4 tourists from the Chinese mainland, were injured. Nearly 200 suffered serious injuries.The explosion hit a water park Saturday after colored powder being sprayed onto a crowd ignited. Footage shows crowds dancing as music played. Clouds of powder suddenly turned into a ball of fire and tore through the spectators. Terrified party goers ran for their lives, screaming, as they were overtaken by flames.According to the police, around 12,000 people attended the Color Play Asia event at the Formosa Fun Coast water park that night. City authorities shut the park down and are investigating the incident. 5 people responsible for the event have been detained by police for questioning.Taiwan’s fire department has concluded the explosion was caused by a powder spray. The Deputy Mayor of New Taipei – Hou Youyi- made the announcement at a news briefing earlier today.Related China Kunshan Factory Explosion center_img South Africa Rastafarianslast_img read more

Three Linden teams into Limacol quarter-finals

first_imgTHREE Linden teams – Federal Winners Connection, Milerock and Eagles United – are through to the quarter-finals of the 2017 Limacol round-robin knock-out football tournament following the final round of matches on Sunday evening. In the first of the matches at the Mackenzie Sports Club (MSC) ground, Eagles United had no problem in dispatching New Amsterdam United three-nil with goals from Kendolph Lewis scoring in the 8th minute to open the home side’s claim.Kurt Johnson and Kelon Primo followed suit in the second half (70th and 87th) minute to move the Eagles side onto the next round.Eagles United scorers from L-R Kendolph Lewis, Kurt Johnson and Kelon PrimoGame two, on the other hand, was just short of a battle royal between Federal Winners Connection and Milerock with the game ending scoreless.A grudge match between the two teams, the game was a physical encounter with both sides registering their fair share of chances but neither failing to capitalise on them.Meanwhile, there is a brief rest period for the teams as action returns next Sunday with matches in the quarterfinal double-header at two different venues.The tournament will return to Linden at the Mackenzie Sports Club ground when home side Milerock take on the Western Tigers while the feature game will see Federal Winners Connection play Eagles United.At Victoria, the Police team will challenge Den Amstel while Mahaica Determinators will do battle with Santos.last_img read more