Sec. 5. Review of loan applications
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Subtitle C of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5531 et seq. ) is amended by adding at the end the following: The Bureau shall carry out reviews of loan applications and the process of taking loan applications being used by covered persons to ensure such applications and processes do not violate the Equal Credit Opportunity Act or any other Federal consumer financial law. If the Bureau determines under subsection
(a)that any loan application or process of taking a loan application violates the Equal Credit Opportunity Act or any other Federal consumer financial law, the Bureau shall— prohibit the covered person from using such application or process; and take such enforcement or other actions with respect to the covered person as the Bureau determines appropriate. . The table of contents in section 1 of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by inserting after the item relating to section 1037 the following: Sec. 1038. Review of loan applications. .
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Sec. 5
Review of loan applications
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