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The reasonable financing regulations broadly prohibit two types of discrimination: disparate therapy and impact that is disparate.

1 April, 2021 |by JohnMiller83 | 0 Comments | 500 fast cash loans payday loan online

The reasonable financing regulations broadly prohibit two types of discrimination: disparate therapy and impact that is disparate.

Both theories may apply in some instances. Disparate therapy happens whenever a lender treats a consumer differently due to a protected attribute. Disparate therapy ranges from overt discrimination to more subdued variations in treatment that may harm customers and will not have to be motivated by prejudice or an intent that is conscious discriminate. The Federal Reserve has made many recommendations into the U.S. Department of Justice (DOJ) involving treatment that is disparate rates where bank employees charged greater fees or interest levels on loans to minorities than to comparably qualified nonminority customers. These recommendations have actually resulted in many enforcement that is DOJ. These situations typically include circumstances by which bank workers had broad discretion setting interest levels and costs and may increase their very own settlement by billing borrowers more. 4

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