Knowledge Tree
fair lending laws
Facts (6)
Sources
2025 Fair Lending Trends | Wolters Kluwer wolterskluwer.com Apr 14, 2025 2 facts
claimFinancial institutions are expected to face increased enforcement of fair lending and consumer protection laws by state regulators as those regulators fill the void left by federal entities.
claimNon-bank lenders will continue to be under heightened scrutiny to ensure their lending practices align with fair lending laws.
Fair Lending Enforcement Program - Department of Justice justice.gov 2 facts
claimPredatory lending practices can violate fair lending laws, state and federal consumer protection laws, or both simultaneously.
claimThe government alleged that Delta Funding Corporation violated fair lending and consumer protection laws by underwriting home mortgage loans with higher mortgage broker fees for African-American females than for similarly situated white males, paying kickbacks to brokers to refer loan applicants, and approving loans without regard to the borrower's ability to repay.
Key 2025-2026 Regulatory Compliance and Lending Law Changes winnow.law Feb 17, 2026 1 fact
procedureBest practices for AI compliance in financial services include adopting AI risk frameworks that include documentation, validation, and ongoing monitoring; conducting bias and fairness testing aligned with fair lending laws; and implementing cross-functional governance committees that integrate legal, compliance, risk, and data science perspectives.
Fair Lending Report of the Consumer Financial Protection Bureau federalregister.gov Jul 2, 2024 1 fact
accountOn March 8, 2023, the Federal Deposit Insurance Corporation (FDIC) issued a public consent order for Cross River Bank under section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)) for engaging in unsafe or unsound banking practices related to compliance with fair lending laws.