Combating Abusive Lending Practices examines the difficulties of defining predatory lending, and the range of laws and enforcement strategies used to protect consumers of mortgage-related financial services. The course examines events leading up to the mortgage credit and liquidity crisis of 2007 and the regulations that emerged afterwards. Students will gain insights shared in a presentation featuring Federal Reserve staff on key elements of the 2008 HOEPA regulations for combating abusive lending. The course includes instruction on the types of resources available to ensure compliance with the laws in this area.
Course Outline:
Lesson 1 - Evolution of Predatory Lending Laws
- Describe Challenges in Defining Predatory Lending
- Federal Laws
- State and Local Laws
- Impact of Enforcement Actions
Lesson 2 - Changing Regulation Overview
- The Mortgage Credit Crisis Landscape
- Federal Regulation Changes
- State Regulation Changes
- Resources
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