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Agencies Address Fair Lending Concerns of Industry and Indicate that ECOA, Ability-to-Repay Rule Compatible

by Haydn J. Richards, Jr. and Heather C. Hutchings In an October 22, 2013 statement released by the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National...

FHA Establishes Lender Self-Reporting Requirements

by Zafreen J. Husain In June 2013, the Consumer Financial Protection Bureau (CFPB) issued Bulletin 2013-06 to encourage lenders to self-report serious violations in order to advance the CFPB’s enforcement mission. To complement the CFPB’s bulletin, the Federal Housing Administration (FHA...