Law Commons^™

Responsible Lending Compliance: A “Common Sense” Approach, Francina Cantatore

Francina Cantatore

In the wake of the July 2013 Enhancements to the National Consumer Credit Protection Act it has been necessary for credit providers to review and update their responsible lending processes. A year later, it is timely to assess whether enough has been done, and to consider if lenders are compliant. Inevitably, some grey areas exist under the new law which lenders need to deal with, and this paper will address some of those issues. Responsible lending is not a new phenomenon. It has been in place for consumer credit loans for some time; however, the recent enhancements required a revision …