Although the applicable regulations have been in place for decades, the emergence of the Consumer Financial Protection Bureau’s Office of Fair Lending and Equal Opportunity, combined with vigorous enforcement by the U.S. Department of Justice, has resulted in closer regulatory scrutiny of fair lending practices and higher risk for lenders. These fair lending risk factors aren’t found only in the mortgage world, where the focus has been for decades, but are also prominent in the automotive finance industry, where recently lenders have been subject to record-setting penalties and restitution.
Regulatory requirements and industry expectations have increased dramatically for all finance companies and financial institutions, regardless of size, application volume, or primary regulator. It is the responsibility of the financial services company to put itself in the best position to succeed in mitigating the risk of perceived unfair lending practices.
Join Niall Twomey and Reid Simon of Crowe Risk Consulting as they discuss the trends in fair lending enforcement, regulatory expectations for technical analysis, and the steps your organization might consider taking toward mitigating newly emergent risk factors.
The discussion addresses fair lending risk management pertaining to both consumer mortgage lending and indirect automotive lending.
This webinar will help you to:
Niall Twomey, CRCM – Crowe Risk Consulting
Reid Simon, CRCM, CPA – Crowe Risk Consulting