Mystery shopping is a form of internal self-testing—and a technique that banks may be subjected to by external organizations. Raise your fair lending IQ with compliance-focused aspects of mystery shopping.
The Federal Housing Finance Agency issued a policy statement today stating its position on fair lending laws with respect to the entities it regulates: Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
As banks move to responsibly integrate artificial intelligence and machine learning capabilities into their business processes, the American Bankers Association this week urged regulators to focus on providing greater clarity around the use of AI and ensuring that there is a consistent regulatory standard for its use across all financial services providers.
The Department of Housing and Urban Development last week proposed to recodify its 2013 discriminatory effects rule.
Panel during ABA’s Regulatory Compliance Conference discussed was how the Biden administration’s focus on racial equity could alter agencies’ approach to governance and oversight.
Questions and answers from the May/June 2021 ABA Regulatory Policy and Compliance Inbox.
The Federal Reserve is focused on addressing “long-standing disparities” in unemployment, “because they weigh on the productive capacity of our economy,” Federal Reserve Chairman Jerome Powell said today during remarks at an industry event.
The Consumer Financial Protection’s fair lending work “is and will continue to be a critical component of the bureau and the federal government’s response to the pandemic and the elimination of racial injustice,” the bureau noted this week in its annual Fair Lending Report to Congress.
A quarter into the year, a quick check on how key areas are changing, with some important suggestions.
The Consumer Financial Protection Bureau will increase its supervision and enforcement efforts to ensure that companies delivering COVID-19 relief are meeting their legal obligations and protecting consumers, Acting CFPB Director Dave Uejio said today.