5 fair lending flubs

What kinds of things are financial institutions doing that send up a flare to the Consumer Financial Protection Bureau in its search for fair lending violations?

One good place to look is in the CFPB’s fall 2015 semi-annual report, where the bureau outlined those areas that indicate heightened fair lending risk. In other words, if the CFPB sees signs of these risks at a financial institution, that’s a trigger for them to dig deeper to look for evidence of fair lending violations.

As part of its mandate, the CFPB is charged with overseeing and enforcing Federal laws intended to ensure the “fair, equitable, and nondiscriminatory access to credit.” These laws include the Equal Credit Opportunity Act and The Home Mortgage Disclosure Act.

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