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CFPB Issues Warning to Lenders: Do Not Discriminate Against Borrowers Who Receive Social Security Disability Income

The CFPB issued Bulletin 2014-03 to remind creditors of (1) their obligations under the Equal Credit Opportunity Act (ECOA) and its implementing regulation, Regulation B, with respect to consideration of public assistance income; and (2) relevant standards and guidelines regarding verification of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) income received by mortgage applicants. To read the entire Bulletin, please click here.

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