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CFPB Fair Lending Report

Article
2 minute read
May 15, 2014

The Consumer Financial Protection Bureau (CFPB) recently issued a new Fair Lending Report which discusses their efforts to ensure fair, equitable and nondiscriminatory access to credit for all consumers. The report includes regulatory expectations, which the CFPB expects all institutions to uphold, and related enforcement actions.

The report addresses what the CFPB considers in the quality of an institution’s fair lending compliance management system. While the appropriate quality scope will vary based on an institution’s size, complexity and risk profile, the report states that common features include:

To learn more about the Fair Lending Report and what it means for your institution’s operations, please contact Bruce Zaret, partner in Weaver’s Financial Institutions Consulting practice.

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