Extending credit is a cornerstone of banking. Because of society's need for lending and credit, Congress has passed a number of acts ensuring that banks distribute credit fairly.
In this module we will discuss the laws regarding fair lending practices in the United States. We will provide an overview on the fair lending regulations and discuss the policies and procedures your bank needs to enact to ensure compliance with them.
This course includes an examination.
Learning Objectives:
- The Fair Housing Act (FHA)
- The Equal Credit Opportunity Act (ECOA)
- The Home Mortgage Disclosure Act (HMDA)
- The Community Reinvestment Act (CRA)
Course Outline:
- The Fair Housing Act (FHA)
o Coverage
o Enforcement
o Prospective and retrospective relief
o FHA monitoring Information
o Record retention
o Advertising requirements
o FDIC monitoring
o Common concerns
- The Equal Credit Opportunity Act (ECOA)
o Discriminatory actions
o Types of lending discrimination
o Reg. B purpose
o Relation to state laws
o Record retention
o Information for monitoring purposes
o Notifications
- The Home Mortgage Disclosure Act (HMDA)
o Requirements
o HMDA-LAR required contents
o HMDA-LAR required data
o Non-compliance
o Reporting
o Public disclosure
- The Community Reinvestment Act
o Evaluations
o Non-compliance
Assessment area delineation
Duration:
0.83 hours
Features:
Audio, Hybrid
Module(s):
5510EN
