Links in “Fair Lending”

CFPB's Spring 2014 report states that the agency conducted over 100 supervisory activities, such as full scope reviews and follow-up examinations in 2013 and plans to conduct about 150 in 2014. The report also addresses elements of a strong fair lending compliance management system. [5/23]

The 26 fair lending exams in 2013 exceeded the agency's goal of 18 by 44% and is more than double the number of such exams in 2012. And that's just on-site exams. NCUA reported 41 off-site contacts with credit unions related to fair lending. [5/21]

NCUA’s Annual Report released yesterday shows that 26 credit unions were subjected to Fair Lending audits last year with an average of 205 hours spent on each credit union. In addition, NCUA initiated 41 offsite Fair Lending contacts where the credit unions’ Fair Lending policies were reviewed and recommendations provided for improvements. [5/13]

A look at the ingredients of a well-developed fair lending program, according to the CFPB in its second Fair Lending Report recently issued to Congress. [5/6]

A brief recap of the CFPB's Fair Lending Report, including guidance on how lenders may self-assess their own compliance with ECOA and HMDA. [5/5]

CFPB Blog highlights key points presented in report to Congress on efforts of the Bureau related to Fair Lending. Key efforts including refinement of supervisory review of Fair Lending laws, enforcement actions taken, release of key tools including the HMDA Database and expanding use of the CFPB Complaint system that advocates for consumers impacted by various issues including Fair Lending. [5/1]

12-page report provides insights on wide range of topics including the strength of Insurance Fund, threats to and management of cyber security, voluntary liquidation, "know your member," verification, fraud, HMDA data, and Fair Lending impact. [3/18]

CFPB's updated strategic plan shows it intends to focus more than 45% of its staff growth over the next two years in supervision, enforcement and fair lending. [3/7]

National Automobile Dealers Association has issued guidance to help auto dealers deal with CFPB's fair lending bulletin. Guidance recommends that dealers set a standard markup for all buyers, which can only be reduced for specified reasons. [1/29]

Regulatory focus on fair lending is escalating, as evidenced by 3 year-end settlements. Here are highlights from these settlements along with the 5 key industry messages that the regulators are telegraphing to lenders. [1/2]