Payment Law Advisor Legal Commentary and Resources for the Payment Industry

Tag Archives: Equal Credit Opportunity Act

States Diverge From Federal Regulators on Disparate Impact

Posted in Financial Services Litigation and Enforcement, Regulatory and Compliance
Federal and state fair lending regulators are charting different courses for the future of “disparate impact” liability under the Equal Credit Opportunity Act and analogous state law. For its part, the federal policymaking apparatus is working to limit or eliminate disparate impact liability under ECOA, basing the change on the Supreme Court’s… Read the rest

CFPB Provides Details of Non-Public Supervisory Actions

Posted in Financial Services Litigation and Enforcement, Regulatory and Compliance
The Consumer Financial Protection Bureau recently issued its semi-annual Supervisory Highlights report, which summarizes non-public supervisory actions that occurred during the second half of 2014. These reports provide regulated institutions with insight into the CFPB’s recent areas of focus and identify specific practices that the agency ha… Read the rest