Fair Lending Practices

Fair lending practices ensure that all individuals have an equal opportunity to access credit, such as loans and mortgages, regardless of race, religion, gender, age, or other personal characteristics. These practices prohibit discrimination and promote transparency in borrowing and lending processes. Lenders are required to evaluate applicants based on their ability to repay and not on discriminatory factors. The goal is to create a fair and level playing field so everyone has an equal chance to obtain financial products, fostering trust and fairness in the financial system.