A Refresh on Regulation B’s Special Purpose Credit Program
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Answer: Yes. The Financial Institution needs to be aware of what makes up the data that is obtained and how the data is applied. These algorithms may be filtered by zip codes, level of education or purchasing behaviors. The Financial Institution needs to ensure the algorithms used do not cause disparate impact by eliminating protected …
When: August 17, 2021 10am – 11:30 am CST Fair lending continues to be a hot topic for all lending institutions. Understand the fair lending risk factors that the regulators are focusing on such as redlining, disparate impact, fair lending monitoring, pricing exceptions, underwriting exceptions, and marketing. Know the importance of understanding your lending pattern …
“What are you doing to ensure diversity, equity and inclusion (DEI)?” That question routinely comes up during conference calls among us, clients, and regulatory agencies. Businesses, educational institutions, and non-profit organizations all are focusing on DEI. Financial institutions are no exception. In fact, regulatory agencies emphasize the importance of DEI in written communications about the Fair …
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If your institution is regulated by the FDIC or FRB, you can stop reading here, unless you want to see what could be coming your way in the near future. The OCC published a final Community Reinvestment Act rule on June 5, 2020 which marks a departure from the OCC, FDIC and FRB being “in …
OCC Banks: Have You Hung Up Your New CRA Lobby Notice Yet? Read More »
Minding the pandemic, election and social issues is a lot to focus on but bankers will have to add the Community Reinvestment Act (CRA) to their full plates. There are three hot CRA topics on which to focus since CRA is still very much on the regulatory agencies’ minds. Despite 2020 upending CRA lending programs, …
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