Financial institutions have been implementing new regulations through board-approved policies for decades. As existing regulations are revised and new regulations are published existing polices need to be updated. Policy Updates are completely customizable and designed to simplify the task of updating existing policies, regardless of where the existing requirement is lodged.
The Parental Leave Policy Update communicates the Board’s intent to prohibit discrimination in applications for credit on the basis of familial status and gender, in addition to other bases that are prohibited by state and federal law. It includes a statement of policy, designation of individual(s) responsible for overseeing compliance, and addresses procedures, training and testing.