California AB801 establishes the California Fair Lending Examination Act, focusing on nondiscrimination in mortgage lending.

California AB801, known as the California Fair Lending Examination Act, mandates the Commissioner of Financial Protection and Innovation to conduct examinations of banks, credit unions, and residential mortgage lenders and servicers. These examinations aim to ensure compliance with nondiscrimination laws, including the federal Equal Credit Opportunity Act and the federal Fair Housing Act. The commissioner may cooperate with state and federal agencies and accept their examinations in lieu of conducting their own, provided they meet necessary information criteria.

California AB801 establishes the California Fair Lending Examination Act, focusing on nondiscrimination in mortgage lending.

California AB801, known as the California Fair Lending Examination Act, mandates the Commissioner of Financial Protection and Innovation to conduct examinations of banks, credit unions, and residential mortgage lenders and servicers. These examinations aim to ensure compliance with nondiscrimination laws, including the federal Equal Credit Opportunity Act and the federal Fair Housing Act. The commissioner may cooperate with state and federal agencies and accept their examinations in lieu of conducting their own, provided they meet necessary information criteria.