Acting Comptroller of the Currency Michael Hsu today encouraged banks to “explore the opportunities available through special purpose credit programs.”
The Department of Housing and Urban Development today issued guidance that for-profit companies’ special-purpose credit programs designed and implemented with the Equal Credit Opportunity Act do not generally violate the Fair Housing Act.
Mystery shopping is a form of internal self-testing—and a technique that banks may be subjected to by external organizations. Raise your fair lending IQ with compliance-focused aspects of mystery shopping.
The Federal Housing Finance Agency issued a policy statement today stating its position on fair lending laws with respect to the entities it regulates: Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
Questions and answers from the May/June 2021 ABA Regulatory Policy and Compliance Inbox.
The Consumer Financial Protection’s fair lending work “is and will continue to be a critical component of the bureau and the federal government’s response to the pandemic and the elimination of racial injustice,” the bureau noted this week in its annual Fair Lending Report to Congress.
The Consumer Financial Protection Bureau today issued an interpretive rule clarifying that the prohibition against…
Building a robust fair lending program and demonstrating compliance is not easy, but merely avoiding unlawful credit discrimination doesn’t need to be the ultimate goal. Here are ways for compliance professionals to promote equity and financial inclusion.
The Consumer Financial Protection Bureau today issued a statement encouraging financial institutions to expand access to financial products and services for consumers with limited English proficiency.