LexisNexis® Legal Newsroom
Federal Reserve Issues Proposed Ability-to-Repay Rule

by Joseph Gabai, Andrew M. Smith and M. Sean Ruff This article provides background information, a summary and commentary on the Federal Reserve Board's proposed rule to implement ability-to-repay requirements for closed-end residential loans. Excerpt: On April 19, 2011, the Federal Reserve...

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...