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Fair lending is more than mortgages

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Question: 
The CFPB hasn’t been active in fair lending other than mortgages, correct, does this present any challenges?
Answer: 

While the CFPB and the prudential regulators did not enter into any public fair lending enforcement actions over the past year ending April 2020, the DOJ and HUD entered into settlements relating to redlining and automobile loan pricing. Since April 2020 the CFPB has entered into some agreements. It is less a challenge for the bank which is prepared.

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Fair Lending Should be on Your Radar Now

First published on 08/30/2020

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