Links in “Discriminatory Practices/Disparate Impact”
- Why Senators May Find CFPB Response to Auto Lending Guidance Less-Than-Satisfactory
Senators' request for details on the methodology used by the CFPB to make its determination that "disparate impact" discrimination is present in the indirect auto financing market is met with a variety of evasive answers, such as not giving a threshold number at which a difference in loan rate would be considered discriminatory, saying such matters are handled on a "case-by-case" basis. [11/5]
- Whereâs the Data to Support the CFPBâs Contention of Discrimination in Indirect Auto Lending?
A group of Senators, along with NAFCU staff, are asking this question about the Bulletin issued by the CFPB in March 2013 that focuses on discrimination in indirect auto leasing. The Senators have requested to see documentation to support the CFPBâs contention that disparate impact is present in the indirect auto industry and warrants the onerous measures laid out in CFPB Bulletin 2013-02. [11/4]
- Tentative Settlement in Supreme Court Disparate Impact Case
Second chance for court to weigh in on the validity of "disparate impact" claims appears to likewise disappear with reports of tentative settlement reached in Mt. Holly case. [11/1]
- Offering Only QMs Not a Fair Lending Violation
NCUA and the other federal regulators have issued a statement that creditors offering only qualified mortgages will not be in violation of the Equal Credit Opportunity Act and Regulation B. The statement was issued in response to creditor concerns that limiting loan offerings to just qualified mortgages could violate the disparate impact doctrine. [10/23]
- Fair Lending Risks When Taking Action on HELOCs Due to Changes in Property Values
If a lender undertakes Home Equity Lines of Credit in one area, but not another, or uses different methods of review in one area versus another, disparate treatment issues may arise. [10/9]
- Years and Acquisition Don’t Shed Discrimination Issues
Capital One, which acquired Chevy Chase Bank in 2009, will pay $3 million to settle charges that the bank systematically charged minority borrowers higher mortgage rates from 2006 to 2009. [10/3]
- Disparate Impact: Waiting on the Supreme Court
How will qualified mortgage rules affect disparate impact analyses? Lawyer suggest holding out for Supreme Court to weigh in on the matter. [9/30]
- HUD Awards $38 Million to Help Fight the Housing Discrimination Fight
Funds provided through HUD's Fair Housing Initiatives Program (FHIP) to enforce fair lending through investigation and testing of alleged discriminatory practices. [9/26]
- The Four “D”s of the CFPB
Speaking at the American Banker Regulatory Symposium, CFPB's Cordray lays out the four D's that plague consumers and the efforts to combat those D's. They are: deceptive marketing, debt traps, dead ends, and discrimination. [9/25]
- Is CFPB Foreshadowing Its Use of HMDA Data to Identify Discrimination?
With release of HMDA data for 2012, CFPB emphasizes that the data can "shine a spotlight on lending disparities." [9/24]
