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Warren Traiger Quoted in Law360 Article, "CFPB Data Collection Boost May Bring More Lending Cases"

Warren Traiger was quoted in Evan Weinberger's Law360 article, "CFPB Data Collection Boost May Bring More Lending Cases," on October 16, 2015. 

The added litigation risks do not come solely from the CFPB. The HMDA data is released publicly each year, meaning that activist groups, state regulators and plaintiffs attorneys will be able to comb through the vastly more comprehensive information, said Warren Traiger, counsel at Buckley Sandler LLP.

“This is public data, so in addition to bank examiners and the [U.S. Department of Justice] utilizing the data, there’s nothing preventing state attorneys general from using it as well,” he said.

And when state regulators, private plaintiffs or other parties come along with new complaints, the expanded data set will allow them to make far more specific discrimination claims than the current HMDA data makes possible.

“There will be a number of additional fields that will be out there that will allow regulators and the public to make more specific allegations regarding discrimination in mortgage lending than the current HMDA data allows,” Traiger said.

Click here to read the full article at www.law360.com (subscription required).