NCUA Q&As – Must all credit unions comply with fair lending laws?

Compliance > Lending > Fair Lending
Q:   Must all credit unions comply with fair lending laws?
 
A:  Fair lending laws apply to all financial institutions involved in lending and apply equally to federal and state chartered credit unions.  Fair lending laws and regulations include: the Equal Credit Opportunity Act (Regulation B); the Home Mortgage Disclosure Act (HMDA; Regulation C); and the Fair Housing Act (FH Act).  In addition, NCUA regulations contain nondiscrimination requirements for federal credit unions regarding real estate-related loans.  See 12 CFR § 701.31. 
 
 
ADDITIONAL INFORMATION:
This Q&A was obtained from NCUA’s website, in a document entitled “NCUA Fair Lending Examination and Compliance Program for Federal Credit Unions,” which may be found here: 
 

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