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How to Conduct Fair Lending Comparative File Reviews
- Learn how and why to conduct a fair lending self-assessment
- Learn how to detect and mitigate against the types of lending discrimination: overt, disparate treatment, disparate impact
- Step-by-step guidance on how to conduct a fair lending comparative file review
Overview of the webinar
Although cases of overt lending discrimination are few and far apart, disparate treatment and impact can happen inadvertently. Awareness and periodic monitoring of lending procedures can lessen the possibility of fair lending issues in your financial institution. Examiners expect banks and other lenders to conduct ongoing fair lending comparative file reviews to detect lending discrimination.
Who should attend?
- Compliance Officers
- CRA Officers
- Fair Lending Program Managers
- Risk and Compliance Officer
- General Counsel
- Fair Lending Personnel
Why should you attend?
Fair lending laws and regulations protect consumers from discrimination and prohibit lending practices that are based on age, sex, ethnicity, religion, national origin or familial status. The laws regulate all loans and loan products and even extend to advertising. Failing to comply with fair lending laws can result in enforcement action and civil penalties, fines and/or an order suspending any lending activity.
Fair Lending Comparative reviews can be helpful in identifying potential fair lending issues. A comparative file review can help you evaluate why a difference in outcomes occurred for apparently similar individuals, and determines if the difference is attributable to inconsistent treatment or the result of consistently applied objective underwriting criteria.
Faculty - Ms.Jennifer Newton
Jennifer Newton is a former Federal Financial Services Regulator from the U.S. Consumer Financial Protection Bureau (CFPB) and brings clients more than a decade of consumer compliance management and risk advisory experience. With her combined experience in the federal government, law firm, and in-house compliance positions, Jennifer offers an uncommonly broad range and depth of consumer compliance expertise in banking and financial service matters. She regularly consults with clients on complex issues relating to the Real Estate Settlement Procedures Act (RESPA), Telephone Consumer Protection Act (TCPA), Home Mortgage Disclosure Act (HMDA), the Gramm-Leach-Bliley Act (GLBA) and the Fair Credit Reporting Act (FCRA). She also guides clients on deposit and consumer lending issues under the Unfair Deceptive Abusive Acts and Practices Act (UDAAP), the Truth in Savings Act (TISA), Regulation CC, the CARD Act, Truth in Lending Act (TILA), Equal Credit Opportunity Act (ECOA), the Community Reinvestment Act (CRA) and the Fair Debt Collection Practices Act (FDCPA). In addition, Jennifer works with clients on privacy and financial technology (fintech) matters involving data security, data breach, open banking, and payment system issues under the Electronic Fund Transfer Act (EFTA), the Global Data Privacy Regulation (GDPR) and federal and state privacy laws, including the GLBA, HIPAA, ADA, CFAA, FCRA and the Florida FIPA.