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Fourth Circuit holds that lenders can require borrowers to waive ECOA claims in connection with loan work-outs

On November 5, 2013 by Schnader in Finance

By Stephen J. Shapiro The Equal Credit Opportunity Act (ECOA) prohibits lenders, with certain exceptions, from requiring a borrower’s spouse to sign a loan.  In a recent decision, the Fourth Circuit held that, although a lender cannot require a borrower’s spouse to waive claims under ECOA as a precondition to extending […]

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The Future is Dim for Fair Lending Claims Based on a Discretionary Pricing Policy

On August 14, 2013 by Schnader in Finance

By Stephen A. Fogdall In Rodriguez v. National City Bank, the United States Court of Appeals for the Third Circuit just dealt a significant blow to classwide litigation of fair lending claims based on a bank’s “discretionary pricing policy.”  Such claims have been increasingly common in the aftermath of the 2007-2008 […]

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