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.
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: