United States Congress
Equal Pay for Equal Work Act
August 27, 2024
Summary
This act prohibits pay discrimination on the basis of sex, race, or ethnicity for substantially similar work, requiring mortgage lenders and other employers to ensure compensation practices do not disparately impact protected groups. Affected entities must review and adjust pay structures, job classifications, and promotion criteria to comply with the law. The rule applies broadly across all mortgage programs, as it is a general employment and fair-lending requirement.
AI-generated summary · Sep 9, 2026. Verify with your compliance counsel before acting.
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Source: https://www.congress.gov/bill/118th-congress/hr-bill/9424
Common questions
- What does "Equal Pay for Equal Work Act" cover?
- This act prohibits pay discrimination on the basis of sex, race, or ethnicity for substantially similar work, requiring mortgage lenders and other…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on August 27, 2024.
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