Discrimination can be obvious, subtle, or unintended. Charges of discrimination can come from any direction. Risk comes in the form of penalties, regulatory enforcement actions, civil liability, or damage to a bank’s reputation, to mention a few. The best defense against these threats and risks is developing and maintaining a sound, fair lending compliance management system.
Over the years, Fair Lending violations have led to consent decrees that include: significant civil monetary penalties, reimbursement to borrowers, and burdensome remedial action to prevent further violations.
What You’ll Learn:
- Basic fair lending concepts
- Laws and regulations
- Bases of discrimination
- Types of discrimination
- How to build and maintain a fair lending compliance management system, including policies and procedures
- How to conduct a fair lending risk assessment
- Evaluating inherent and residual risk
- For various loan products (commercial, real estate, consumer, etc.)
- For various aspects of the process (application, underwriting, pricing, advertising, collection)
- Rating risk
- How to mitigate fair lending risk
- Reviewing policies and procedures for fair lending problems and eliminating those concerns
- Training – Who, How, When, and What
- Monitoring/Auditing
- Exceptions
- HMDA data
- Pricing
- Marketing/Advertising
Who Should Attend:
The program is designed for the Board of Directors, senior management, loan department management, compliance officers, loan officers, marketing officers, auditors, and others with responsibilities related to the marketing, origination, and servicing of loans.