Update to the FDIC’s Consumer Compliance Examination Manual

Summary:

The FDIC’s Consumer Compliance Examination Manual has been updated to reflect that the FDIC will evaluate potential discrimination under the Equal Credit Opportunity Act and Fair Housing Act only through evidence of disparate treatment. 

Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions.

Highlights:

The following sections of the FDIC’s Consumer Compliance Examination Manual have been updated:

• Sections 1.1, 2.1, and 4.1 of Section IV-Fair Lending Laws and Regulations have been updated to remove all references to disparate impact and how to evaluate disparate impact risk.
• Section VII-1.1 Unfair, Deceptive, and Abusive Practices - Federal Trade Commission Act/Dodd-Frank Act has been updated to remove reference to disparate impact.

To assist readers in identifying the changes, the FDIC is providing a redline document that identifies all changes.