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Fair lending is more than mortgages

Answered by: 

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 recently, the DOJ and HUD entered into settlements relating to redlining and automobile loan pricing. Since April 2020 the CFPB and HUD have entered into some agreements.

It is less a challenge for the bank which is prepared.

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Learn more about Andy Zavoina’s Fair Lending, be Proactive webinar.

First published on 06/20/2021

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