Today's Board Essentials Module 5: Fair Lending for Directors
Fair lending is the consistent, objective, unbiased treatment of all consumers without regard to any basis prohibited by law (i.e., race, color, religion, national origin, sex, age, marital status, etc.).
The law has long permitted the use of disparate impact analysis to prove discrimination, which means that your bank can be found liable for discrimination even if there was no intent to discriminate. Many banks have reported that their regulators are using statistical analysis and unpublished analytical formulas during fair lending exams, which have resulted in ‘false positive’ findings of disparate treatment, thus requiring the affected banks to spend large amounts of time and money in disproving false fair lending allegations. Learn more about today’s regulatory environment and how your bank can defend against disparate impact and discrimination claims.
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