Fair Lending: The Board’s Task

As most lenders know, the Equal Credit Opportunity Act prohibits discrimination on the basis of race, color, religion, national origin, sex, marital status, or age…. We find that most lenders understand the big picture and know it’s illegal to discriminate based on these factors but sometimes when they get in the routine of the day to day, they can unknowingly overlook some of the finer details and potentially discriminate in ways that may not be as obvious. But fair lending isn’t just your lender’s job. It’s everyone’s job and that starts with the Board of Directors. The Board is tasked with setting the tone and ensuring that what can be done to lower the potential risk of fair lending issues is being done.

Jerod explains more in the video.


Fair Lending Resources!

Published
2024/09/03

 

Jerod Moyer

Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!

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Fair Lending: The Board’s Task
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