Program Description:
Some of the most important rules in banking compliance involve fair lending, and these rules carry significant penalties and risks for noncompliance. Do you know the true extent of these rules? Recent changes to ECOA / Regulation B as well as new developments in the area of predatory lending are driving many bankers to take a second look at their fair lending programs. How extensive is yours? This program will help you to understand the extent of Regulation B, the Fair Housing Act, and other related rules, and will provide practical suggestions for developing and maintaining an effective Fair Lending program.
This two-hour course covers:
- Prohibited bases under the rules (what you can do, as well)
- Reach of the rules what exactly is covered?
- Evaluating applications and underwriting
- Government monitoring information on applications what applications and what information
- Adverse action what it is and what it is not, and what to do (what notices to provide to what parties)
- Appraisal notice rules
- Developing an effective and comprehensive fair lending program in your institution
- Consequences for violating the rules not just fines
Plus frequent question and answer sessions throughout this presentation.
Who Should Attend:
Anyone in the institution having virtually any responsibility in the lending process has fair lending responsibilities, from senior management, loan officers, underwriters, and closing agents, to compliance officers, auditors, and attorneys, and would benefit from this valuable information.
Presenter:
Carl Pry, J.D., Director of Fair Lending Compliance for KeyBank in Cleveland, Ohio. Mr. Pry provides a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.
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