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Fair Lending : Data Limitations and the Fragmented U.S. Financial Regulatory Structure Challenge Federal Oversight and Enforcement Efforts, Report to Congressional Requesters

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Fair Lending : Data Limitations and the Fragmented U.S. Financial Regulatory Structure Challenge Federal Oversight and Enforcement Efforts, Report to Congressional Requesters

DATE: July 15, 2009

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ABSTRACT: The Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA)--the "fair lending laws"--prohibit discrimination in lending. Responsibility for their oversight is shared among three enforcement agencies--the Department of Housing and Urban Development (HUD), Federal Trade Commission (FTC), and Department of Justice (DOJ)--and five depository institution regulators--the Federal Deposit Insurance Corporation (FDIC), Board of Governors of the Federal Reserve System (Federal Reserve), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), and Office of Thrift Supervision (OTS). This report examines (1) data used by agencies and the public to detect potential violations and options to enhance the data, (2) federal oversight of lenders that are identified as at heightened risk of violating the fair lending laws, and (3) recent cases involving fair lending laws and associated enforcement challenges. GAO analyzed fair lending laws, relevant research, and interviewed agency officials, lenders, and consumer groups. GAO also reviewed 152 depository institution fair lending examination files. Depending upon file availability by regulator, GAO reviewed all relevant files or a random sample as appropriate.

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United States. General Accounting Office and United States. Government Accountability Office. "Fair Lending : Data Limitations and the Fragmented U.S. Financial Regulatory Structure Challenge Federal Oversight and Enforcement Efforts, Report to Congressional Requesters" in GAO Reports & Testimonies (July 15, 2009). https://fraser.stlouisfed.org/title/6136/item/622224, accessed on May 18, 2024.

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NOTE: GAO-09-704

PUBLISHER: United States. Government Accountability Office

PLACE: Washington

SUBJECTS: CLASSIFICATION:
  • sudocs: GA 1.13:GAO-09-704
IDENTIFIER:
  • oclc: 438216363
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