978-0324787504 Chapter 22 Lecture Notes

subject Type Homework Help
subject Pages 3
subject Words 889
subject Authors Charles J. Jacobus

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1 Chapter 22
CHAPTER 22: Fair Housing, ADA, Equal Credit, and Community Reinvestment
I. Discuss Fair Housing Laws as an expanding, 
changing area 
A. Discuss the constitutional basis for fair  !
housing and the need for protected classes
B. New Amendments
1. Define Handicapped
2. Define Familial Status
C. Define Steering
D. Define Block Busting
E. Explain Housing Covered by the 1968
Federal Fair Housing Law
F. Acts Not Prohibited by the 1968 Fair
Housing Law
G. Fair Housing Enforcement
H. Agent's Duties
I. Testers "#
J. State Laws
II. Discuss the Americans with Disabilities Act
A. Deals primarily with commercial property
B. Scope of Title III
III. Discuss the Equal Credit Opportunity Act
A. Prohibited Requests
B. Evaluating Credit Applications $%
C. Credit Denial
D. Penalties
IV. Discuss the Community Reinvestment Act
A. Mandatory information in CPA Statement
B. FHLBB Guidelines &'
V. Define Minorities on lending?
(

(

)*
*(+
"!
Chapter 22 2
,+
-.
! ! (
/01
/02
(
(
3
+!
4-
5
Start 


 6 
!

Stress(.
Jones v. 78+
"90::
(
1968 


Expanding the Text: +
1968 "
.9;<1
-1988.
/02 1=: . Stress)-

>!> ?!
 
/0: 1=: - Stress$

9;:04-
/0: "
,
9;:04
/001=; 4
/0; 19=
(
/0; 19= .
5
Memory Hook@A

*(
'A
"
.Enforcement
9B-C$
B$
D4C.$
/4C."

.Remedies
96E
Stress
"
#
Local Distinction: 6

8
.
!
3 Chapter 22
Page Ref.
Hard Soft
back back
389
410
0
391 412
393 415
Topic
The Americans with
Disabilities Act
Equal Credit
Opportunity Act
(ECOA)
Community
Reinvestment Act
395 416 Wrap-Up
Teaching Tips
Stress: The Act deals mainly with commercial property. It is
detailed and licensees should be cautious in representing what
may or may not be required by the law.
Stress: The law was enacted to protect borrowers from being denied
credit simply because of their race, color, religion, national origin,
sex, receipt of public assistance, age, or marital status.
Memory Hook: Notice that the first five protected classes are the
same as those of the Fair Housing Law. The law was originally
enacted to protect women's right to apply for credit. To help
remember the difference between protected categories for Fair
Housing and ECOA, add to the first five categories the name
PAM: Public assistance, Age, Marital status.
Local Distinction: Ask if anyone has been turned down for a loan in
the past because of their sex or age. You can hear some interesting
stories from the pre-1970s.
Stress: The purpose of this law is to ensure that financial institutions
meet. community needs other than just cashing checks and taking
deposits.
1. List the seven protected classes under the 1968 Fair Housing
Law: (race, color, religion, sex, national origin, familial status,
handicapped) Any additional protected classes in your state?
(answer per your state)
2. Block busting and steering are synonymous and both are
legal? (False, both are illegal. Steering is directing people to a
particular neighborhood and Block busting is inducing panic
selling.)
3. All other things being in order, an owner of a duplex who
lives in one of the units may refuse to rent to men? (True)
May refuse to rent to an African-American? (False)
4. A builder of residential, single-family homes must meet the
standard of the ADA? (False, the ADA deals primarily with
commercial properties)
5. ECOA covers applications for credit? (True)
6. ECOA protected classes? (Race, color, religion, national
origin, sex, receipt of public assistance, age, marital status)
7. What law requires financial institutions to serve the needs of
their communities? (Community Reinvestment Act)

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