Mitigating the Risks Associated With the Equal Credit Opportunity Act

The Equal Credit Opportunity Act (ECOA) and associated fair lending laws are critical to ensuring that discrimination does not occur in consumer lending. Despite the significant reduction in operations at the Consumer Financial Protection Bureau (CFPB) under the current administration, ECOA and other fair lending laws remain fully in effect and other federal agencies and the Department of Justice continue to conduct examinations and enforce fair lending regulations. Explore this expertly written practice note, by Robert Maddox, Jonathan R. Kolodziej, Jason R. Bushby, and Tom Mostellar of Bradley Arant Boult Cummings LLP, for a clear understanding of ECOA related litigation and common defenses.

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Related Content                   

• Fair Lending Presentation
  Utilize this presentation to aid in training employees, lenders, and third parties on fair lending requirements for consumer lending transactions. The presentation includes an overview of fair lending laws and outlines steps to ensure compliance with consumer lending.

• Fair Lending Laws and Enforcement Trends
  Explore the primary federal fair lending laws that historically received a greater level of regulatory scrutiny. This practice note summarizes fair lending enforcement activity and recent trends in this area.

• Fair Lending Policy Statement for Insured Depository Institutions
  Use this template fair lending policy statement, designed for use by depository institutions insured by the FDIC or the National Credit Union Share Insurance Fund, to re-enforce the institution’s commitment to the principles of fair lending.

• Fair Lending Laws Compliance Checklist
  Take advantage of this comprehensive checklist to evaluate ongoing compliance with federal and state consumer protection laws including ECOA, the primary federal fair lending law prohibiting discrimination.

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