Fed Reschedules Keeping Fintech Fair: Thinking About Fair Lending and UDAP Risks (6/21/18) The Federal Reserve rescheduled its Outlook Live event, Keeping Fintech Fair: Thinking About Fair Lending and UDAP Risks, due to a conflict with the ABA's Regulatory Compliance Conference, which starts this weekend. The webinar has been rescheduled to July 16. If you have already registered, you will not need to re-register. A Questions and Answers segment will follow the presentation.
HUD Issues Request for Public Comment on Disparate Impact Regulation (6/20/18)
In a move long sought by the American Bankers Association, the Department of Housing and Urban Development is formally seeking public comment on whether its rule implementing the Fair Housing Act’s discriminatory effects standard is consistent with the Supreme Court decision in Texas Department of Housing and Community Affairs v. Inclusive Communities Project. HUD requested feedback on the rule's burden-of-proof standard, the rule's definition of "discriminatory effect" and whether it strikes the proper balance in encouraging legitimate legal claims, the need for clarification on the causality standard for a prima facie case under Inclusive Communities, the need for safe harbors and other revisions to the rule that could reduce uncertainty or undue burden. For more information, contact ABA's Rod Alba.