H2O

Comment Stream » GMO

Comment Stream
Filter comments by:
Highest rated Latest comments
Or filter by symbol:
  • Jim Cramer's Mad Money In-Depth, 11/30/07: Holy Moly
    Under The - Fair Lending Laws and Regulations

    Section 202.5(a) of Regulation B

    Example: A lending officer told a customer, "We do not like to
    make home mortgages to Native Americans, but the law says we
    cannot discriminate and we have to comply with the law." This
    statement violated the FHAct’s prohibition on statements expressing
    a discriminatory preference as well as Section 202.5(a) of Regulation
    B, which prohibits discouraging applicants on a prohibited basis.



    FTC Response
    The law makes discrimination illegal and contains
    certain other rules

    Both Acts give you the right to sue for damages and to
    obtain attorney's fees and costs if your suit is
    successful.


    Sincerely yours,


    Consumer Response Center

    Enclosures:
    1. Mortgage Discrimination (REA-08)

    Thank you for contacting the Federal Trade Commission. We entered
    the information you provided into our shared law enforcement data base.
    We share this data base with Federal, State and Local law enforcement
    agencies. Attached is your electronic response, which includes your
    reference number. Any enclosures can be found at ftc.gov under Consumer
    Protection and Consumer Information section.
    Information from consumers like you helps Federal, State and Local
    authorities investigate possible illegal practices and enforce our laws.
    Someone from the Federal Trade Commission or another law enforcement
    agency may contact you if they need additional information to help them
    in an investigation.
    Please visit the FTC's web page, ftc.gov, to get free
    information to help you avoid costly consumer problems.


    Dec 03 10:42 am |Rating: 0 0 |Link to Comment |View article

H2O's Comments Stream Stats

  • 146 Comments, 0 , 0
  • Total Comment Stream rating - = 0