We are pleased to present the Winter 2021 edition of the Mayer Brown Fair Lending Newsletter. In this edition, we discuss some of the fair housing priorities that President-elect Biden previewed during the presidential campaign, and take a look at notable developments from the past quarter. We hope you will enjoy reading.
Welcome to the inaugural edition of Mayer Brown’s Fair Lending Newsletter. Our goal in publishing this newsletter is to provide you with a quarterly resource covering the most notable fair-lending developments of the past three months. In this edition, we cover various topics, from the current state of fair lending at federal government agencies to recent regulatory developments affecting banks and other consumer financial services companies.
From a new Policy Statement on Abusiveness to the use of novel deception claims in public enforcement actions, 2020 was an active year in the application of the prohibition on unfair, deceptive, or abusive acts or practices (“UDAAP”) in the consumer financial services space. In this inaugural edition of the UDAAP Round-Up, we look back on how federal regulators applied the prohibition on UDAAP in the policy, enforcement, and supervisory contexts, and look ahead to what 2021 may bring.