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Published byRalph Blair Modified over 8 years ago
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Department of Justice Fair Lending Cases: United States v. Bank of America United States v. Countrywide Financial Corporation United States v. GFI Mortgage Bankers, Inc. United States v. Luther Burbank Savings United States v. Mortgage Guaranty Insurance Corp. United States v. SunTrust Mortgage, Inc. United States v. Wells Fargo Bank $550,000,000
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Equal Credit Opportunity Act: Race Color Religion Sex Marital Status National Origin Handicap Age Public Assistance Income National Origin Familial Status
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Enacted in 1974 Advertising Inquiries Applications Delinquent Accounts Account Administration Affects a credit transaction in: Collections
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Enacted in 1968 Expanded protection from discrimination into home ownership.
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Overt Discrimination Disparate Treatment Disparate Impact
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The credit practice, on general overview, appears neutral and is applied equally, but has a disproportionately negative effect, or disparate impact, of discriminating against a protected class.
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Internal monitoring; Member complaint response; Independent testing and auditing; and, Third party due diligence. Fair lending compliance program should include: Integrated with product development, business acquisition, and marketing. Training;
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Membership Demographics Self-testing Credit Union Self Assessment Statistical Analysis
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Thank you for joining me for this overview of Fair Lending.
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