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Fair Lending Risks in Third-Party Relationships

Tuesday, March 14, 2017

9:00 am – 10:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

It is important to remember that fair lending requirements cover every element of operations – including third-party vendors’ functions. The CFPB and NCUA continue to issue fair lending guidance as a prelude to increased examination scrutiny. Consumer “protection” attorneys are also taking note of this potentially profitable area. Don’t be caught ill prepared for the new compliance realities.

Most credit unions rely on third-party vendors in all aspects of their lending operations. It has always been a challenge to effectively manage vendors and maintain the better end of the deal. But general performance, privacy, and security are no longer the only concerns. Under today’s laws, your institution can be held liable for fair lending violations committed by your vendors! How does your contract address this? How are you monitoring and measuring the risk? This is a compliance risk you cannot afford to ignore. Join us to learn the logic and limits of fair lending requirements to ensure your team is prepared.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • High-risk, third-party vendors
  • Addressing compliance in the contract
  • Incorporating vendors into your fair lending compliance program
  • Key regulatory guidance
  • Vendor management best practices

  • TAKE-AWAY TOOLKIT
    • Fair lending examination guidance
    • Third-party risk guidance
    • Fair lending risk assessment matrix
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

WHO SHOULD ATTEND?

This informative session is designed for executives, senior management, compliance staff, vendor management personnel, real estate and automotive lenders, collectors, internal auditors, audit committee members, and anyone involved with real estate collections and loan servicing.

PLEASE NOTE: Webinar content is subject to copyright and intended for your individual financial institution’s use only.

MEET THE PRESENTER