Lenders Urged to be More Vigilant in Fair Lending As CFPB Focuses More on Lending Policies, Practices
May 7, 2015
Compliance attorneys are urging mortgage lenders to reevaluate their lending policies and practices to ensure they are not biased against any protected groups even as the Consumer Financial Protection Bureau warned about increased focus on fair lending and redlining in 2015. In their analysis of the CFPB’s recent report on fair lending, attorneys with the Washington, DC, law firm K&L Gates warned that the bureau will increase its scrutiny of mortgage lending amid growing concern about redlining, or refusal to lend to certain groups of borrowers or neighborhoods. Attorneys Melanie Brody and Anjali Garg said...