Independent Fair Lending Audits

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Navigating the complexities of Fair Lending regulations and helping your bank develop and maintain fair and diverse lending practices

We help you measure how well you adhere to Fair Lending laws and regulations and whether your policies, procedures, and practices provide equal and fair access to credit throughout your community.

Fair lending audits are not only a compliance requirement, but they assure you and your community that your lending policies are inclusive and that you treat everyone fairly. They’re essential ingredients in maintaining a solid reputation and enhancing community relations.

Still, banks can inadvertently make mistakes when working with borrowers and vetting their creditworthiness. A blip anywhere in the process can raise the stakes and result in financial penalties, regulatory punishment, and reputational damage.

We guide you in building a program that helps manage the fair lending risk and mitigates even unintentionally disparate treatment.

Our team has extensive experience and insight into Fair Lending laws and understands the finer points of regulatory requirements and changes. That knowledge allows us to help you mitigate risk and better manage your Fair Lending obligations.

We focus on the risk categories outlined within the Interagency Fair Lending Examination Procedures to identify potential violations and vulnerabilities. That includes a review of:

  • Fair lending compliance management program
  • Comparative loan file
  • Policies and procedures established to manage fair lending risk
  • Assessment of underwriting guidelines
  • Lending pattern identification and data analysis at both the individual borrower characteristics level and the minority tract level
  • Demographic makeup of the lending area
  • Mapping of lending patterns in the Banks’ defined market area

TCA guides you to A Better Way to comply with Fair Lending regulations and continue providing equal access to credit in your community.

Key deliverables include:

  • Evaluating your Fair Lending practices at the Board level and across bank departments
  • Providing sophisticated analysis to identify your lending performance, identifying any deficiencies, and making recommendations for preventing discriminatory practices
  • Helping you to maintain the bank’s standing in the community.
  • Assessing your Fair Lending risk level

Additional Fair Lending Topics

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CRA Public File Is No April Fools’ Joke!

By | March 25, 2019

April 1st is known as April Fools’ day, a time to play tricks and pranks. Some historians have noted that April Fools’ Day dates to 1582. It is speculated that the start of the new year had moved to January 1st and people who were slow to get the news and/or continued celebrating the new […]

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CRA Asset-size Thresholds Announced for 2019

By | December 21, 2018

The annual CRA asset-size thresholds for covered financial institutions were announced on December 20, 2018 applicable for 2019. The cutoff adjustments are based on the change in the CPI (Consumer Price Index) for each 12-month period ending in November, rounded to the nearest million. As a result of the 2.59% increase in the CPI, the […]

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Submit Comments to CRA Modernization Initiative

By | November 14, 2018

Several staff members of Thomas Compliance Associates (TCA) attended the recent CRA & Fair Lending Colloquium and obtained valuable information from the sessions. One theme that stood out and presenters stressed was that bankers can help shape the re-write of the Community Reinvestment Act (CRA) regulation. The Office of the Comptroller of the Currency (OCC) […]

Do You Need Compliance Help?

We’re here to review your current compliance strategy and help you find A Better Way to manage risk.

Phone

800-934-REGS

Email for Non-Confidential Information Only

[email protected]

Office Location

2021 Midwest Road, Suite 200,
Oak Brook, IL 60523

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