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Word is that initial fair lending exams underway under the auspices of the new Consumer Financial Protection Bureau, some passed on from their original regulator, are largely focused on pricing.
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Tammy Milliken, director, Deloitte & Touche LLP, said during a webcast on the CFPB Tuesday afternoon that she and others have been hearing through the grapevine that some fair lending exams are underway and in these “there is a significant focus on pricing.”
More generally when it comes to the CFPB's regulatory efforts, the more companies can show they are compliant and have controls in place, “the better off” they are going to be, Milliken said.
