Laird Nossuli of iEmergent: Neither Risky Nor Mysterious, SPCPs are Evidence-Based Lending

As someone who has been advising lenders on market strategy for years, I can say that developing SPCPs is neither risky nor mysterious when driven by sound data. Like any well-designed lending program, SPCPs require engaging in intentional, market data-based product design and performance evaluation — a practice that every lender could benefit from if it is not already.

CFPB: ECOA Protects Borrowers After Applying for, Receiving Credit

The Consumer Financial Protection Bureau on Monday published an advisory opinion affirming the Equal Credit Opportunity Act—a federal civil rights law protecting individuals and businesses against discrimination in accessing and using credit—bars lenders from discriminating against customers after they have received a loan, not just during the application process.

MBA Commends HUD Guidance on Special Purpose Credit Programs

HUD on Dec. 7 released guidance clarifying special purpose credit programs that conform with the Equal Credit Opportunity Act and Regulation B generally do not violate the Federal Fair Housing Act.

CFPB Extends Comment Period on ECOA/Reg B RFI to Dec. 1

Bowing to requests by the Mortgage Bankers Association and other industry trade groups, the Consumer Financial Protection Bureau yesterday said it will provide an additional 60 days for public comment on its Request for Information on expanding access to credit through Regulation B, which implements the Equal Credit Opportunity Act.

CFPB Extends Comment Period on ECOA/Reg B RFI to Dec. 1

Bowing to requests by the Mortgage Bankers Association and other industry trade groups, the Consumer Financial Protection Bureau yesterday said it will provide an additional 60 days for public comment on its Request for Information on expanding access to credit through Regulation B, which implements the Equal Credit Opportunity Act.

MBA, Trade Groups Ask CFPB to Extend Comment Period on ECOA Request for Information

The Mortgage Bankers Association and nearly a dozen industry trade organizations on Aug. 10 asked the Consumer Financial Protection Bureau to extend the comment period on its Request for Information on expanding access to credit through Regulation B, which implements the Equal Credit Opportunity Act.