UPDATED Financial Industry Essentials Module 9: Fair Lending, Including UDAAP Basics

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Financial institution employees must ensure everyone has equal access to credit.

Now, this does not mean that every application is approved, but applicants must be given opportunities, evaluated fairly, and not discriminated against on prohibited bases. This module will address fair lending hot topics, including redlining and appraisal discrimination, and also share examples of discrimination. In addition, unfair, deceptive, abusive acts or practices will be covered. Both topics can cause significant injury to consumers, erode consumer confidence, and undermine the financial marketplace. Therefore, it’s critical that all staff understand the importance of fair lending and be able to accurately explain products, services, and fees.

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