Bankers Group Says Fair-Lending Enforcement Too Aggressive

Law360, New York (July 19, 2012, 7:21 PM EDT) -- The American Bankers Association on Wednesday called on federal regulators to abandon fair-lending enforcement that’s based solely on evidence that minorities pay more for loans, saying there should be proof of intentional discrimination before financial institutions are accused of wrongdoing.

ABA President Frank Keating made the request in a letter to Federal Reserve Chairman Ben Bernanke, promising the industry is committed to a “color-blind” business model but pleading for relief from the so-called disparate impacts doctrine.

“This doctrine seeks to impose liability on lenders for statistical...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.