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Obama Administration Says It’s Cracking Down on Discriminatory Lending to Students


The Chronicle of Higher Education, April 19, 2012

The Obama administration’s new consumer-oriented financial-watchdog agency says it is cracking down on lending practices that discriminate against women and members of minority groups. In a letter to banks on Wednesday, the Consumer Financial Protection Bureau warned that lenders would be strictly monitored for discriminatory practices when issuing student loans, auto loans, mortgages, and credit cards. The agency also issued a tip sheet listing the warning signs of discriminatory lending practices.