Fair Lending never seems to fall out of fashion. While the rest of the industry is focusing on TRID, Flood Insurance and HMDA, the regulatory agencies, the Department of Justice and plaintiff attorneys are focused intently on the issue of fair lending. Large penalties and burdensome enforcement actions are the order of the day.
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 to these threats and risks is developing and maintaining a sound fair lending compliance management system.
The Fair Lending Review and Update training manual explains recent fair lending problems, the corrective action required by the agencies, the penalties imposed on the bank, and steps your institution can take to avoid similar problems. It also provides a quick refresher on the basic concepts of fair lending.
Compliance Resource training manuals are designed to be used when conducting in-house training, whether initial training upon implementation of the new requirement, periodic training for new team members or remedial training for longer-term team members.