Consumer Financial Protection Bureau Provides Guidance to Help Lenders Avoid Discrimination Against Consumers Recieving Disability Income
November 18, 2014
Bureau Warns Lenders Against Creating Illegal Hurdles for Recipients of Social Security Disability Income
WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) is issuing a bulletin to help lenders avoid imposing illegal burdens on consumers receiving disability income who apply for mortgages. The CFPB is reminding lenders that requiring unnecessary documentation from consumers who receive Social Security disability income may raise fair lending risk. Today’s bulletin calls attention to standards and guidelines that may help lenders comply with the law, and help ensure that recipients of Social Security disability income receive fair and equal access to credit.
(more…)