Trade Groups Seek Meeting With Sessions on Fair Lending Policy

Jul 07, 2017

Five of the industry’s leading trade groups have requested a meeting with Attorney General Jeff Sessions to discuss their concerns related to federal fair lending policy.

In a letter to Sessions, the trade groups sought clarification on the Trump Administration’s approach to enforcing fair lending laws. Nothing that “this Administration has an opportunity to align fair lending policy with Supreme Court precedent and address constitutional concerns regarding the consideration of race in decision-making," the trade groups reaffirmed their fidelity to fair lending principles while asking whether the Executive Branch would continue the approach used by the Obama Administration in enforcing these laws.

“Our members are committed to fair lending and expend substantial resources to ensure that credit decisions are based on a consumer's qualifications for credit and without regard to factors such as race or national origin,” the trade groups wrote in the letter. “The civil rights team of the previous Administration, however, sought to use the rulemaking and enforcement process to establish novel and overreaching requirements that contradict Supreme Court precedent.”

The letter acknowledged that the Trump Administration’s “civil rights team is not yet in place,” but noted that “the actions of the Department [of Justice] to date appear to further the prior Administration's policy, and with other court deadlines fast approaching, we ask that you allow us to present our concerns to you before other decisions are made.”

The trade groups included the American Bankers Association, the American Financial Services Association, the Consumer Mortgage Coalition, the Independent Community Bankers of America and the Mortgage Bankers Association.

About the author

Phil Hall

Link copied

Published

Jul 07, 2017

Community

How To Win Real Estate Investors, And Keep Them Coming Back

NMP Ignite speakers share strategies for building lasting investor relationships, overcoming financing challenges, and generating repeat business

Real estate investors can be some of the most valuable clients an originator will ever work with. They buy repeatedly, refinance properties, build portfolios, and refer other investors. But earning their loyalty requires a different approach from traditional residential lend...

Analysis and Data

Just 22% Of Homebuyers Are First-Timers As Cash Purchases Rise

NAR finds nearly one-third of repeat buyers pay cash, narrowing the pool of financed purchase transactions for lenders

First-time homebuyers remain largely on the sidelines of the housing market, accounting for just 22% of purchases as older, equity-rich repeat buyers continue to dominate, according to new data from the National Association of Realtors (NAR).The first-time buyer share edged ...

Nov

Pasadena, CA

More from

Regulation and Compliance

West Capital LO Challenges Contractor Status, Required Fees

A former originator alleges unpaid overtime, recurring tech charges, and company restrictions that he says undermine his independent-contractor status

Regulation and Compliance

Nov 06, 2026

CFPB Closes 40% Of Investigations, Keeps Mortgage Enforcement In Focus

The federal watchdog closed thousands of supervisory and investigative matters as it narrowed oversight

Regulation and Compliance

Nov 05, 2026

Midterms Loom With Mortgage Policy Changes Already In Motion

As voters head to the polls Tuesday, Washington is weighing changes to refinancing costs, loan pricing, and lending regulations

Regulation and Compliance

Nov 02, 2026

UAD 3.6 Deadline Is Monday. Are Brokers Ready?

Wholesale lenders have adopted different rules for appraisal transfers, loan product changes, and reporting formats, adding complications for brokers and appraisers ahead of the Nov. 2 mandate

Regulation and Compliance

Oct 27, 2026

Friday Harbor Expands AI Appraisal Reviews As UAD 3.6 Deadline Nears

The new capability adds more than 350 automated checks as lenders prepare for the November 2 mandate

Tech

Oct 27, 2026

The Hidden Cost Of Appraisal Uncertainty

As home equity lending grows, lenders need a better way to resolve conflicting property evidence before it creates costly setbacks

Regulation and Compliance

Oct 25, 2026

Popular