ABA yesterday released a bank members-only staff analysis of the Supreme Court’s ruling in Texas v. Inclusive Communities Project, which found that “disparate impact” analysis to demonstrate discrimination claims is recognized under the Fair Housing Act.
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The U.S. Supreme Court ruled today that disparate impact claims are enforceable under the Fair Housing Act. The decision in the case — Texas Department of Housing and Community Affairs v. Inclusive Communities Project — included a note of caution that statistical disparities only impose liability if plaintiffs can connect it to a defendant’s policy causing the disparity in order to “protect defendants against abusive disparate-impact claims.”
Fifteen Democratic senators today asked the federal financial regulators to look into allegations that financial institutions and the housing GSEs do less to maintain foreclosed homes in minority-dominated neighborhoods than in predominantly white communities.
Regulators see fair lending risk in small-dollar loan products that allow significant discretion in pricing and underwriting, according to a panel discussion today at ABA’s Regulatory Compliance Conference.
By a 231-195 vote, the House yesterday passed an amendment to a government spending bill that would prevent the use of disparate impact analysis by the Department of Housing and Urban Development under the Fair Housing Act.
ABA and several housing groups today urged the House to pass an amendment that would prevent the use of disparate impact analysis by the Department of Housing and Urban Development under the Fair Housing Act.
The Consumer Financial Protection Bureau today issued a bulletin reminding creditors to include income from Section 8 homeownership vouchers when underwriting mortgage loans, in keeping with the prohibition on discrimination based on income derived from a public assistance program under the Equal Credit Opportunity Act and Regulation B.
The Consumer Financial Protection Bureau released its third annual report on fair lending.
FDIC Vice Chairman Thomas Hoenig today became the latest regulator to emphasize the need to tailor regulations to suit banks’ risk profiles and business models, suggesting several ways that regulatory burdens could thus be lightened for “the vast majority of commercial banks.”