News & Analysis as of

Fair Lending New Guidance

Cadwalader, Wickersham & Taft LLP

CFPB Issues Guidance on Credit Denials by Lenders Using Artificial Intelligence

On September 20th, the Consumer Financial Protection Bureau (“CFPB”) published guidance – Consumer Financial Protection Circular, 2023-03 – regarding the list of reasons that must be provided when an applicant is denied...more

Orrick, Herrington & Sutcliffe LLP

OCC updates fair lending booklet of Comptroller’s Handbook

On January 12, the OCC released a revised version of the “Fair Lending” booklet of the Comptroller’s Handbook. The revised booklet replaces the prior booklet issued in January 2010. ...more

Bradley Arant Boult Cummings LLP

CFPB Provides New Guidance on Discrimination in Algorithmic Credit Decisions

As we have repeatedly discussed this year in our Financial Services Perspectives blog, the current leadership of the CFPB has placed a significant emphasis upon fair lending. Seemingly once a month, or even more frequently at...more

Cadwalader, Wickersham & Taft LLP

CFPB: Consumers Who Have Already Received Credit Are Protected by Fair Lending Laws

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on May 9, confirming that for purposes of the Equal Credit Opportunity Act (“ECOA”) and its implementing regulation, Regulation B, the intended...more

Morgan Lewis - All Things FinReg

Fair Lending Focus: CFPB Issues Statement on Serving Consumers with Limited English Proficiency

The Consumer Financial Protection Bureau (Bureau or CFPB) on January 13 issued a Statement Regarding the Provision of Financial Products and Services to Consumers with Limited English Proficiency (Statement) ...more

Goodwin

Financial Services Weekly Roundup: PPP Borrowers And Lenders Under The Microscope

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule that would establish a revised framework for the fair value determination for purposes of the Investment Company Act of 1940 and have...more

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