From: Financial Regulation News
The Independent Community Bankers of America (ICBA) urged the Trump administration last week to rein in the overzealous application of fair lending laws, claiming the laws have sparked a trend of unwarranted enforcement actions.
“Community banks are fully committed to fair lending and strongly oppose discrimination prohibited under laws such as the Fair Housing Act and Equal Credit Opportunity Act,” Cameron Fine, ICBA president and CEO, said. “However, community banks are experiencing enforcement overreach that diverts an abundance of resources from serving their local communities to complying with and responding to unwarranted fair lending allegations.”