Fair Lending, Fair Housing, Equitable Housing Plans Rule

The FHFA has finalized a rule mandating equitable housing plans for regulated entities. This rule introduces new requirements for developing and implementing comprehensive plans designed to address fair lending and fair housing concerns. The objective is to ensure that entities actively work towards meeting the housing needs of all communities, particularly those historically underserved.

Regulated entities must now create and submit these equitable housing plans to the FHFA. The rule outlines specific components and expectations for these plans, focusing on promoting fair access to housing and preventing discriminatory practices. Compliance with this rule will require a thorough review of current practices and the development of new strategies to align with the FHFA's objectives. Failure to comply may result in regulatory action.