CFPB issues proposal to amend Regulation B to allow flexibility for mortgage lenders

From: Financial Regulation News

The Consumer Financial Protection Bureau (CFPB) released a proposal this week to amend Regulation B to provide additional flexibility for mortgage lenders concerning the collection of consumer demographic information.

Regulation B implements the Equal Credit Opportunity Act (ECOA) — a federal civil rights law that protects applicants from being discriminated against by lenders.

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