Denying access to a checking account because the individual is of a particular race could be an unfair practice even in those instances where ECOA may not apply.
The CFPB will examine for discrimination in all consumer finance markets, including credit, servicing, collections, consumer reporting, payments, remittances, and deposits.
What does that mean to you? Do we discriminate in the deposit area? Let’s run our that audit and see what we do that could be unfair!
What You Will Learn
- Account opening procedures
- Account closing procedures
- Issuance of debit cards and reissuance charges
- Overdraft fees and waivers
- Time Deposit/Certificate of Deposit Waivers
- Are customers treated fairly
- When it could be considered favoring one customer over another
- Self Auditing
Who Should Attend
Compliance Officers, Deposit Operations, Branch Administration, BSA Officers, Management, Risk Management and everyone who opens and closes accounts