Beware! The Fair Lending Bear Awakens from Its Slumber
By EsqSocial Corporation 28/05/21
The Equal Credit Opportunity Act and its implementing Regulation B (collectively, "ECOA") prohibit discrimination against protected classes (e.g., race, national origin, gender, age, etc.) in credit transactions. ECOA has been a focal point of attention since the Consumer Financial Protection Bureau's auto finance discrimination guidance was issued in 2013, and the CFPB began a flurry of very public enforcement activity against large players in the auto finance industry for policies it believed...
By: Hudson Cook, LLP