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Anti-Discrimination Policies Creditors

Ballard Spahr LLP

NCLC Asks CFPB to Consider Residential Leases as Credit for Specific Purposes

Ballard Spahr LLP on

The National Consumer Law Center is asking the CFPB, by way of a petition, for rulemaking that is long on policy arguments but woefully short on legal support, as we note below, to define residential leases as “credit” under...more

Sheppard Mullin Richter & Hampton LLP

CFPB Affirms Compliance with ECOA Adverse Action Notice Requirements

On May 26, the CFPB published a circular affirming that federal anti-discrimination laws require companies to explain to consumers the specific reason a credit application was denied, even if the creditor is relying on...more

Troutman Pepper

CFPB Releases a Warning — But No Helpful Guidance — on Machine Learning Model Adverse Action Notices

Troutman Pepper on

On May 26, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or...more

Perkins Coie

CFPB Announces Expanded Anti-Discrimination Efforts Through UDAAP

Perkins Coie on

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra warned consumer finance companies that he will be expanding the bureau’s anti-discrimination efforts “to combat discriminatory practices across the board in...more

Hudson Cook, LLP

Consumer Lending in the COVID-19 Crisis - Fair Lending Concerns

Hudson Cook, LLP on

The world has been struck by an unthinkable humanitarian crisis - COVID-19. We have never seen anything like this before, and this virus impacts every aspect of our lives. It is in this environment that creditors seek...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Lathrop GPM

8th Circuit Rules ECOA Does Not Apply to Guarantors of Loans

Lathrop GPM on

After argument before the U.S. Court of Appeals for the 8th Circuit in Hawkins v. Community Bank of Raymore, Case No. 13-3065, Lathrop & Gage attorneys Tom Stahl, Greer Lang and Justin Nichols obtained a ruling that the Equal...more

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