Under the new Biden Administration, Fair Lending Enforcement has already increased. There has also been significant policy changes and amendments to Fair Lending Laws, viz. Equal Credit Opportunity Act (ECOA) and Fair Housing Act (FHA).
With the complex new regulations and upcoming major changes and at the same time an ever-changing industry; evolving best practices come into play. It’s also crucial to stay on top of the latest changes to remain compliant and expand your awareness of upcoming financial issues.
This Webinar is in continuation with our series on Fair Lending including webinars: Fair Lending in the New Biden Administration, Effective Fair Lending with the Power of Data & Changing Fair Lending Regulations: Role of AI and Data. This Webinar will be a year-end summary session and will cover:
1. Upcoming and New Regulations:
a. Changes in Fair Lending Regulations in the New Administration- 1071
2. Exams and Scrutiny:
a. How to Prepare & Respond?
b. Consequences of Non-Compliance with Fair Lending Processes & Recent Observations
c. Ways to Mitigate Risks of Non-Compliance
3. Evolving Best Practices: Summary on Use of Data and AI/ML Algorithms in Fair Lending Evaluation
4. Expectations in Q1 - 2022