Fair Lending - Regulation B Part Two

Directors play an important role in the success of every financial institution by providing oversight and directing risk management. A recent ABA survey found that Fair Lending was the number one compliance concern given the more volatile regulatory environment that followed the "mortgage meltdown". Fair Lending concerns have been heightened by the creation of the CFPB (Consumer Financial Protection Bureau) and expanded enforcement actions. This two-part series will address key issues since Fair Lending violations can impede growth plans, impact profitability, and potentially damage the bank's reputation. As with all business risk, this is another area that must be managed effectively.

Covered Topics

  • Fair Lending Basics
  • Collection & Servicing Concerns
  • Compliance Management System
  • Seven Essential Elements for Fair Lending
  • Exam Focus by Regulator
  • Fair lending and discrimination
  • Self-Assessments
  • Mitigating Risks
  • CFPB and Consumer Complaints
  • Mortgage Servicing & Reg. Z & X

In addition, this program will touch on the following questions:

  • What type of reviews should be done for Fair Lending in collections & servicing?
  • What do recent enforcement actions say about violations of Fair Lending laws during the collection process?
  • Servicing requirements changed in 2014. What are the Fair Lending risks in loss mitigation, foreclosure procedures, customer service response, and reputation risk?

Who Should Attend?

Anyone in the institution having compliance responsibilities - when you think about this, it could be just about anyone in the institution. This may include members of senior management, operations personnel, lending personnel, underwriters, customer service representatives, back-room personnel, and of course compliance officers, auditors, and attorneys, and anyone else in the institution that might benefit from this valuable information.

The biggest value of the series..."Ability to have someone explain in plain English what is going on." Christine G., Bank Fund Staff Federal Credit Union