Links in “Fair Lending”

HUD charges Fifth 3rd with discrimination on basis of disability for requiring unnecessary medical documentation from elderly couple in order to qualify the couple for a Federal Housing Administration (FHA) loan. Significantly larger fair lending impact on underwriting process likely to emerge. [8/23]

A reinstatement request with modification, but has underlying tone of importance of ensuring analysis of CU's appraisals and impact on Fair Lending. Comment period of 60 days. [8/19]

Side by Side-like test used to establish different treatment. Case is against apartment complex and property manager, but testing principle merits fair lending consideration for financial institutions. [8/15]

A NJ town that demolished a predominantly minority neighborhood is being sued for "disparate impact," but is arguing that the intent to discriminate must be proved; SCOTUS may not weigh in on this Fair Lending matter after all, as both sides have requested a delay in court proceedings to Aug. 1 to seek a settlement. [7/8]

Guidance on NCUA's new hot topic: Fair Lending examination program. [7/2]

In response to requests from congress, Cordray responds in a letter that the CFPB is examining possible discrimination beyond the housing and auto finance market. [6/25]

Asks for rationale for on fair lending guidelines for auto lenders over concerns that they may weaken competition by limiting consumer's ability to negotiate with the dealer to obtain lowest financing terms. [6/24]

New Examination Procedures gives powerful guidance for all: expect an increase in examination expectations, with heavy focus on Fair Lending, best practices for ECOA & TILA. Just the 1st round... [6/5]

Experian study provides performance analysis on mortgage debt by gender. [5/23]