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Andrea K. Mitchell quoted in Inside Mortgage Finance article, “States gear up for fair lending enforcement, with a few limits”

Inside Mortgage Finance

Andrea K. Mitchell

Andrea K. Mitchell was quoted on December 10, 2018 in an Inside Mortgage Finance article, “States gear up for fair lending enforcement, with a few limits,” which predicted increased enforcement of fair lending laws by state regulators. The articled stated, “State regulators will likely put more effort into enforcing fair lending laws, even as the CFPB continues to reassess the use of the disparate-impact theory under the Equal Credit Opportunity Act.”

Mitchell said states can use their own authority in applying the disparate-impact theory. But she noted that, “While states have authority to enforce fair lending laws, the real-world practices would not be easy for states. I think that’s also another reason why they are focused on the CFPB pursuing disparate-impact cases, because it requires their specialists; it requires a lot of resources to take national cases.”

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