Last week, Acting CFPB Director DavidUejio signed off on the agency’sannual fair lending report. The report explains that due to the ongoing effects of the pandemic, many people are facing greater financial hardship than ever before, especially communities of color. The strain on the economy h...
Consumer Financial Protection Bureau (CFPB) will take fair-lending enforcement action against lenders who discriminate even those who unintentionally put borrowers at a disadvantage. The CFPB released a compliance bulletin about the CFPB and Justice Department's enforcement of the Equal Credit Opportunity...
In conjunction with today’s report, the CFPB released a consumer advisory warning homeowners of the risky practices in the solar lending market and sharing advice for borrowers who encounter illegal activity. The U.S. Department of the Treasury also published information to help consume...
Fair Lending Guidance and Disclosure Requirements for Residential Mortgages Access this practice note for a comprehensive overview of fair lending laws, regulations, and disclosure requirements related to residential mortgages under the Equal Credit Opportunity Act (ECOA), Fair Credit Repo...
Compliance is a complex subject that is evolving every year, but ComplianceTech is always happy to update our clients on all of the developments in the financial field. Give our HMDA and fair lending compliance experts a call today at (202) 842-3800, orvisit us online.Start preparing and ...
athe Consumer Financial Protection Bureau (CFPB) (an independent bureau of the Federal Reserve System that includes an Office of Financial Education, Office of Fair Lending and Equal Opportunity, and Office of Financial Protection of Older Americans); 消费者财政保护 (更老的) (美国人的财政保护局CFP...
“consumer” protection laws in the small business lending context, and both agencies have substantial existing fair lending analytics expertise. In addition, private parties may bring claims under the civil enforcement provisions of ECOA, including individual and class action claims against creditors ...
Lending Act, respectively. Late last year, a court denied a motion for summary judgment in a case in which a consumer alleged that a debt collector violated the Fair Debt Collection Practices Act for trying to collect on time-barred debt. In that case, the parties disag...
The Director of the Office of Fair Lending and Equal Opportunity within the CFPB, Patrice Alexander Ficklin, said this in last year's CFPB Fair Lending Report: "We maximize our resources by targeting our efforts on practices, products and institutions that pose the greatest risk to ...
The Consumer Financial Protection Bureau (CFPB) is a regulatory agency charged with overseeing financial products and services that are offered to consumers. The CFPB is divided into several units—Operations; Consumer Education & External Affairs; Legal; Supervision, Enforcement, and Fair Lending, and...