Payday Lending Regulations Neglect To Address Concerns of Discrimination
The disparate impact test is an unworkable test, but not so much for its risk of inviting massive abuses, but rather for the heavy burden the test places on claimants in Segregation in Texas, Professor Richard Epstein argues that the disparate impact standard is an ???intrusive and unworkable test that combines high administrative cost with risk of inviting massive abuses by both the courts and the executive branch of government??¦??? Indeed, in the context of payday lending.
The Department of Housing and Urban Development??™s formulation for the disparate effect test is really a three-part inquiry: at phase one the claimant must show that a specific training possesses ???discriminatory impact.??? At phase two, the lending company may justify its methods since they advance some ???substantial, genuine, nondiscriminatory interest.??? At phase three, the claimant may bypass that reason by showing the genuine ends of ???the challenged practice could possibly be offered by another training which has a less discriminatory impact.???
And even though proof of discriminatory intent isn’t necessary, claimants nevertheless bear a burden that is tough phase one in showing with advanced analytical analysis demonstrable negative effects and recognition regarding the accurate training causing these impacts. Such claims are especially tough to show in financing situations because loan providers may effortlessly conceal abuse of sex biases or stereotypes in determining prices, rates, and store areas underneath the guise of ???just doing company??? or simple coincidence merely as a result of customers??™ buying choices.
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Initially posted. Republished.
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