CFPB seeks to push anti-bias scrutiny beyond fair lending

By Jon Hill (March 16, 2022, 7:30 p.m. EDT) – The Consumer Financial Protection Bureau said Wednesday that discrimination by financial service providers may be unfair and illegal even if federal fair lending laws do not apply. not apply, unveiling policy review changes that could open up a wider range of activities to anti-discrimination review.

The CFPB has released an updated review manual that outlines its views on how discriminatory conduct may be considered a prohibited and unfair practice under the agency’s broad Dodd-Frank Act authority. to prevent unfair, deceptive or abusive acts and practices – or UDAAP – in the field of consumer credit.

Although the CFPB has always had the power to control discrimination using the Equal…

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