Are you doing enough to oversee your bank’s fair lending compliance efforts?
In light of the new civil rights movement, we expect the banking agencies and the Department of Justice to intensify their scrutiny of bank compliance with fair lending.
As a bank director, you need to be engaged in overseeing your bank’s fair lending compliance efforts. That doesn’t mean that you need to learn all of the technical details of fair lending, but you should have or gain a basic understanding of the role of the board of directors in overseeing your bank’s efforts to comply with fair lending laws.
That is the objective of AABD’s Practical Handbook on Fair Lending for Bank Directors and Executive Officers, available here.
Our next podcast episode is on fair lending in light of the new civil rights movement, with our guest Ken Thomas, a leading expert in the Community Reinvestment Act, a director of a community bank, and a former member of the faculty at the Wharton School for 42 years.