Lenders Say Disparate Impact Doesnt Fit Under Fair Housing Act; U.S. Says it Does, Give HUD Its Due
January 12, 2012
Mortgage industry groups are urging the U.S. Supreme Court to pay close attention to the wording of the Fair Housing Act specifically phrasing thats not in the 1968 law in deciding whether fair lending charges can be brought on the basis of disparate impact. In an amicus brief filed in the case of Magner v. Gallagher, mortgage trade groups said the Fair Housing Act requires proof of intentional discrimination and does not envision a violation based on disparate impact. The brief was filed by K&L Gates on behalf of the Independent Community Bankers of America, the Consumer Mortgage...