Valerie Hletko Quoted in Bloomberg BNA Article, "Justices Weigh Potential for Bias Claims By Guarantors Under Equal Credit Law"
October 6, 2015
Valerie Hletko was quoted in Chris Bruce's Bloomberh BNA article, "Justices Weigh Potential for Bias Claims By Guarantors Under Equal Credit Law," on October 6, 2015.
The U.S. Supreme Court Oct. 5 heard arguments on whether a loan guarantor may allege marital-status discrimination as an ‘‘applicant’’ under the Equal Credit Opportunity Act (ECOA) (Hawkins v. Community Bank of Raymore, U.S., No. 14-cv-00520, argued, 10/5/15).
The case, an appeal from an August 2014 ruling by the U.S. Court of Appeals for the Eighth Circuit that said they can’t, could vindicate a 30-year-old regulatory interpretation that says they can.
Valerie L. Hletko, a partner with BuckleySandler in Washington, D.C., who represents institutions and individual clients in litigation, regulatory matters and enforcement actions, Oct. 5 said that discussion shows that the case may not be decided on a theory that ECOA’s language is one-dimensional.
According to Hletko, the case may turn on how the justices view ECOA’s statement of purpose, the way lending operations work in practice, and whether those factors are consistent with a reading that says a guarantor is an ‘‘applicant’’ even if they are not the recipient of credit.
‘‘These three factors should hang together in the decision, and based on the argument it probably does not get resolved as a straightforward question of statutory language,’’ she said.
Reproduced with permission from Daily Report for Executives, 193 DER (Oct. 6, 2015). Copyright 2015 by The Bureau of National Affairs, Inc. (800-372-1033) http://www.bna.com