Description
* Please note that the recording links will be delivered to you via a downloadable word document in your confirmation e-mail. The PowerPoint that corresponds with the recording will be automatically delivered upon purchasing via email from the website.
WHAT?
On March 9, 2021 the Consume Financial Protection Bureau (CFPB) published an interpretative rule entitled Equal Credit Opportunity (Regulation B); Discrimination on the Bases of Sexual Orientation and Gender Identity. The interpretative rule:
- Clarifies that, with respect to any aspect of a credit transaction, the prohibition against sex discrimination in the Equal Credit Opportunity Act (ECOA) and Regulation B encompasses sexual orientation discrimination and gender identity discrimination, including discrimination based on actual or perceived nonconformity with sex-based or gender-based stereotypes and discrimination based on an applicant’s associations.
- Will be effective upon publication in the Federal Register.
WHY?
This two-hour recording provides the information needed to fully implement the provisions of the interpretative rule as soon as reasonably possible.
You’ll receive a detailed manual that provides a thorough explanation of the interpretative rule.
RECORDING CONTENT
Upon completion of the recording you’ll understand:
- The Equal Credit Opportunity (Regulation B); Discrimination on the Bases of Sexual Orientation and Gender Identity interpretative rule;
- The details of the June 15, 2020 Supreme Court case of Bostock v. Clayton County, Georgia, which is the basis of the interpretative rule;
- The previous position of the CFPB and the prudential regulators on this issue;
- The scope of the interpretative rule, which includes every aspect of any loan, made for any purpose;
- The specific issues addressed in the interpretative rule;
- Clarification of “discrimination based on an applicant’s associations”;
- Issues to be addressed in the compliance management system, including policies, procedures and training.
WHO?
The recording is designed for compliance officers, loan operations personnel, loan officers, loan originators, auditors and others involved in originating and servicing loans.
