Removing Barriers Blog

CFPB Outlines Its Fair Lending Priorities in the New Year
Posted December 16, 2016 by CUNA Advocacy

In a blog post, the Consumer Financial Protection Bureau (CFPB) identified what it believes to be new and emerging fair lending risks. It stated that it will focus on the following areas: 

  • Redlining. It will continue to evaluate whether lenders have intentionally avoided lending in minority neighborhoods. 

  • Mortgage and Student Loan Servicing. It will determine whether some borrowers who are behind on their mortgage or student loan payments may have more difficulty working out a new solution with the servicer because of their race or ethnicity. 

  • Small Business Lending. Congress expressed concern that women-owned and minority-owned businesses may experience discrimination when these consumers apply for credit, and has required the CFPB to take steps to ensure fair access to credit. 

To read the CFPB's full blog post, visit: 

http://www.consumerfinance.gov/about-us/blog/fair-lending-priorities-new-year/