CFPB homes in on ECOA compliance in loan servicing

Agency eyes lenders’ practices beyond credit application

The Consumer Financial Protection Bureau is zeroing in on discrimination beyond credit decisioning, prompting auto lenders to review their servicing compliance practices, according to an advisory opinion released Monday. The opinion makes clear that the Equal Credit Opportunity Act (ECOA) applies in all aspects of a credit arrangement, including in servicing, collections, repossession and other […]

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