Fair Lending Compliance Must be Front & Center


As bankers well know, fair lending compliance is an issue that can expose a creditor to examiner criticism, enforcement actions, civil suits and bad press. And more than ever, it has become a customer service issue. Even though Regulation B’s commentary recognizes that an applicant’s immigration status could have a bearing on a creditor’s ability to obtain repayment, nonetheless citizenship and immigration status discrimination can expose creditors to liability under both federal and California laws. For example, DACA recipients, also known as “Dreamers,” have been plaintiffs in at least two recent California class action lawsuits alleging this type of discrimination by creditors. During this session, we will discuss the current prohibited bases under the various federal and California fair lending laws, these two Dreamer cases, and other pressing fair lending compliance issues.

Janet Bonnefin
Aldrich & Bonnefin, PLC