The Board of Directors plays a crucial role in every financial institution. They are ultimately responsible for ensuring an institution is maintaining compliance, operating in a safe and sound manner, etc. Yet, they cannot manage what they don’t know. Your institution’s Compliance Management System (CMS) should be developed and function in a way that your Board can achieve what it is tasked to do. Fair Lending is just one of several requirements where non-compliance carries a lot of potential risks. This means fair lending should be factored in and accounted for within your CMS as a whole.
Jerod explains more in the video.
Published
2025/08/28