MVA White Collar Defense, Investigations, and Regulatory Advice Blog

UPDATE: 

On May 1, 2026, the CFPB issued a final rule revising data collection requirements for small business credit applications.  The compliance deadline for the rule is January 1, 2028.  For more information regarding the rule, and the changes made to prior requirements, please refer to our blog article here.

Executive Summary

The Consumer Financial Protection Bureau (the “CFPB”) has published a final rule implementing the requirements of Section 1071 of the Dodd-Frank Act (the “Final Rule”), which mandated data collection on certain credit applications to facilitate ...

Late last year, news services reported on the results of the efforts of a black couple living in Northern California to challenge what they believed was an initial, discriminatory low-ball appraisal of their home. To test their theory, the couple “whitewashed” their home by removing artwork and replacing family photos with those of a white neighbor, who acted as the homeowner during a second appraisal from another company. The couple filed a discrimination lawsuit against the initial appraiser after the second appraisal came in almost half a million dollars higher. Recent ...