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Wednesday, April 18, 2012

CFPB Will Enforce Fair Lending Laws

The CFPB released a letter on its oversight of fair lending laws, announcing it will enforce fair lending laws that it inherited under Dodd-Frank:

The Consumer Financial Protection Bureau is responsible for enforcing the Equal Credit Opportunity Act...[I]n our examination and enforcement work, we will combat unlawful, discriminatory practices... We will look not only at mortgage lending, but also at other types of credit including student loans, loans for cars, and credit cards.

Read the CFPB's blog post.
Read the letter.

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