This report from the SBPC and Relman Colfax attorneys Stephen Hayes and Kali Schellenberg, examines how laws prohibiting unfair, deceptive (and sometimes abusive) acts and practices (“UDA(A)Ps”) can be applied to combat discrimination in the student loan market and beyond. Current enforcement strategies leave large swaths of the economy vulnerable to an array of discriminatory practices. The report lays out how federal and state regulators can bring the full weight of existing UDAAP laws to drive greater accountability and stamp out discrimination beyond practices traditionally touched with fair lending laws.
While authority exists under current law for regulators to crack down on discriminatory practices, the path to legally using these authorities in some critical areas of the student loan market has not been previously laid out. Using the theory of discrimination presented in this report would provide clarity and a path forward to address issues of racial inequality.
Read the Blog: Leveraging UDA(A)P in the Fight Against Discrimination