Fair Lending Laws
/ˈfɛər ˈlɛndɪŋ lɔːz/
Definitions
- (n.) Statutes and regulations that prohibit discrimination in providing credit and lending services to ensure equal access regardless of race, gender, or other protected characteristics.
The Fair Lending Laws prevent lenders from denying a mortgage based on an applicant's ethnicity.
Forms
- fair lending laws
- fair lending law
Related terms
See also
Commentary
Fair Lending Laws are crucial in regulating financial institutions to promote equitable credit practices and prevent discriminatory lending. Drafting and compliance require careful attention to protected classes and evidentiary standards for discrimination.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.