ACLU has filed a private lawsuit under the fair lending laws against a mortgage banker based in Mt. Laurel, New Jersey.
Congress's efforts at burden relief often fall short of the mark. However, one important feature in this year's banking act provides protection for fair lending self assessment.
Some of the oldest regulatory requirements top the list of violations cited during compliance examinations.
The FDIC has issued a revised edition of SIDE-BY-SIDE, A guide to Fair Lending.
Question: My bank's indirect lending department wants to draft a "friendly" adverse action letter. They also want to preprint the ECOA notice on the back side of the stationary.