New OFAC guidance and FAQs
OFAC has issued "Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property are Blocked." The revision replaces guidance posted on OFAC's website on February 14, 2008. A new Frequently Asked Questions collection pertaining to the revised guidance was also released.
HUD settles with mortgage company to pay $104,000 for discrimination claim
HUD has announced that Freedom Mortgage Corporation, a national residential mortgage lender based in Mt. Laurel, New Jersey, has agreed to pay $104,000 to settle allegations that it discriminated against loan applicants with disabilities by requiring them to provide medical or other documentation regarding their disabilities.
New credit card study assesses fair lending
The Payment Cards Center hosted by the Federal Reserve Bank of Philadelphia has published a new discussion paper, Fair Lending Analysis of Credit Cards. This paper discusses some of the key fair lending risks that can arise in various stages of the marketing, acquisition, and management of credit card accounts, and the analysis that can be used to mitigate these risks.