Banks Caught in the Middle of Regulators’ Fair-Lending Pursuits
Richmond partner David Anthony was quoted in a November 8 Law360 article – “ Banks Caught in the Middle of Regulators’ Fair-Lending Pursuits” – about federal and state authorities regulating banks for fair-lending violations done by third parties with which the banks do business.
“Banks have long been regulated in many, many ways. Nonbanks have not,” David said. “When you deal with banks’ use of nonbanks, like debt collectors, the federal government did not have the authority to regulate these industries.”