Podcasts about fair lending

In this episode of The Consumer Finance Podcast, Chris Willis and Lori Sommerfield discuss the Consumer Financial Protection Bureau's (CFPB) recent withdrawal of more than 60 pieces of informal guidance, focusing on those related to fair lending and unfair, deceptive, or abusive acts or practices (UDAAP) issues. This conversation highlights key pieces of guidance that have been rescinded, including those concerning adverse action notices and abusive practices, in addition to insights on how these developments might influence the CFPB's enforcement priorities moving forward. This episode is part of a series across multiple podcasts from our Consumer Financial Services practice regarding the recent CFPB advisory withdrawals, and their impact in various areas.

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Locke colleagues Lori Sommerfield and Lane Page to dissect two unexpected fair lending developments under the new Trump administration. First, we unpack the Consumer Financial Protection Bureau's (CFPB) surprising move to vacate its own redlining consent order with Townstone Financial, Inc. We then analyze the Federal Housing Finance Agency's (FHFA) dramatic policy shift requiring two government sponsored enterprises (GSEs, namely Fannie Mae and Freddie Mac) to terminate special purpose credit programs (SPCPs), as well as the broader implications for mortgage lenders. Join us for the twists and turns of this evolving fair lending regulatory landscape and learn what steps institutions should consider taking to mitigate risks.

In this episode of The Consumer Finance Podcast, Chris Willis is joined by colleagues Megan Burns, Jason Manning, and Punit Marwaha to explore the arcane world of reverse mortgages. They provide valuable insights about how these unique financial products work, the regulatory landscape, and the litigation hurdles faced by reverse mortgage servicers. Listen to this episode to hear real-life examples highlighting the complexities reverse mortgage servicers may face when dealing with reverse mortgages, including loan origination requirements, the involvement of the U.S. Department of Housing and Urban Development, Federal Housing Administration guidelines, alleged third-party fraud, and the sensitivity around elderly borrowers.

In this episode of the Consumer Finance Podcast, Chris Willis, co-leader of Troutman Pepper Locke's Consumer Financial Services Regulatory practice, delves into the current state of machine learning and artificial intelligence (AI) models in underwriting and fraud detection. Chris provides an overview of the regulatory expectations set by the Consumer Financial Protection Bureau, including the historical context and recent developments. He discusses the importance of fair lending considerations, the use of less discriminatory alternative analysis, and the skepticism around certain types of alternative data. Chris also explores the potential impact of state regulations and the need for a long-term approach to fair lending risk. Tune in to stay informed about the evolving landscape of AI and machine learning in consumer finance.

Welcome to Credit Union Conversations! In today's episode, host Mark Ritter is joined by the industry's leading expert, Mark Treichel, to uncover the mysteries of the NCUA exam and guide you through its complexities. With insights on risk management, cybersecurity, and evolving regulations, Mark Treichel offers invaluable advice on navigating credit union challenges, especially with a new administration in place. Tune in as they discuss everything from working through exam processes, the impact of office buyouts, to the current state of credit risk and empty office spaces. Plus, get an insider's look into the concept of regulation by enforcement and how credit unions can better manage their cybersecurity efforts. Stay with us to hear Mark's advice on reaching out and getting expert assistance on your next NCUA exam.IN THIS EPISODE:(00:00) Introduction (01:34) The NCUA exam and a new administration(09:27) Buyouts and requirements of working in person(13:27) Credit risk management and empty offices(19:10) Cybersecurity and regulation by enforcement(27:53) Connect with Mark TreichelKEY TAKEAWAYS: The change in administration, particularly moving from one political party to another, significantly influences the NCUA's priorities and approach. This shift often creates chaos as new leadership adjusts priorities and regulations. The NCUA is currently dealing with internal challenges, such as a hiring freeze, regulatory pauses, and staff buyouts. These factors contribute to uncertainty within the agency and affect its ability to fulfill its mission effectively. The chaotic environment could lead to turnover, with highly skilled employees either retiring or leaving for other opportunities.There is a focus on "regulation by enforcement," where policies are often clarified through enforcement actions rather than proper regulation. This creates ambiguity and strain on organizations, and there is a push for rules that strictly follow the intent of the law to avoid overreach and unnecessary penalties.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInWith Flying Colors - PodcastMark Treichel - WebsiteCredit Union Regulatory Guidance - PodcastBIO: With 33 years of experience at NCUA, I've served in key roles, including Executive Director, Regional Director, Director of Special Actions, Supervisory Examiner, and Principal Examiner. Starting as a ground-level examiner, I rose to the organization's top. As Executive Director, I supervised Regional Directors, gaining unparalleled insight into NCUA's operations and decision-making processes.Our TeamI lead a team of former NCUA experts with a combined experience of over 240 years in credit union regulation and supervision. This wealth of knowledge allows us to provide comprehensive, insider perspectives on all aspects of credit union operations and regulatory compliance.How We Can HelpWe offer assistance with a wide range of credit union challenges, including:1. Examination preparation and response2. Regulatory approval processes3. Document of Resolution (DOR) issues4. CAMEL code assessments and improvements5. Risk management (credit, interest rate, liquidity, etc.)6. Regulatory compliance (BSA, Fair Lending,...

Jo Ann briefly discusses the changes underway at the U.S. financial regulatory agencies, including thoughts on the new Department of Government Efficiency (DOGE) and potential impacts on the Consumer Financial Protection Bureau (CFPB).

In this third episode of the Year in Review series of The Consumer Finance Podcast, host Chris Willis is joined by Lori Sommerfield, a partner in Troutman Pepper Locke's Consumer Financial Services Practice Group, to discuss significant fair lending and Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) developments during 2024 and what to expect in 2025. They delve into aggressive redlining enforcement actions by federal regulators under the "Combatting Redlining Initiative" during the Biden administration, federal and state regulators' increasing scrutiny of the use of artificial intelligence in consumer lending and potential discrimination claims, the Consumer Financial Protection Bureau's war on "junk fees," and the current status of the Section 1071 final rule. They also offer predictions concerning anticipated changes in the federal agencies' approach to fair lending and UDAAP enforcement under the Trump administration. Tune in for a comprehensive overview and expert insights into these pivotal areas of law, which pose significant regulatory, legal, and reputational risk.

Join host Chris Willis and guests Lori Sommerfield and Joseph Reilly in this episode of The Consumer Finance Podcast as they delve into the CFPB's recent study on differential treatment in small business lending. Discover the methodology behind the study, its findings, and the implications for small business lenders. The discussion also covers the significance of the CFPB's 1071 Small Business Data Collection Rule and its potential impact on the industry. Learn about the possible biases and limitations of the study, and explore the broader context of fair lending practices. This episode provides valuable insights for lenders and regulators alike, highlighting the importance of vigilance and proactive measures in ensuring fair treatment for all small business owners.

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.# With Flying Colors Podcast: Equal Credit Opportunity Act (ECOA) Part Two## Episode SummaryIn this episode, Mark Treichel continues his discussion with Joe Goldberg, diving deeper into the Equal Credit Opportunity Act (ECOA) and Regulation B. They focus on the second primary purpose of ECOA: encouraging the informed use of credit through adverse action notices.## Key Points1. Adverse Action Notices   - Purpose: Inform applicants of reasons for credit denial or less favorable terms   - Must provide specific reasons in detail   - Optimal to provide 3-4 main reasons for adverse action2. Special Purpose Credit Programs   - Allow creditors to meet credit needs of specified classes of persons   - Different rules for for-profit and non-profit organizations3. Department of Justice Referrals   - Required when there's reason to believe an institution has engaged in a pattern of illegal discrimination   - DOJ guidance available for identifying practices that may lead to referrals4. New ECOA Section (Effective August 29, 2023)   - Requires collection and reporting of small business lending data to CFPB   - Applies to creditors with at least 100 originations to small businesses for each of the prior 2 years5. Enforcement and Legal Actions   - NCUA enforces for federal credit unions   - Private actions allowed, including class actions6. Compliance Best Practices   - Familiarize with ECOA and Regulation B   - Implement sufficient compliance management system   - Provide regular training for staff involved in lending   - Oversee third-party vendors   - Conduct self-testing and audits## Resources Mentioned- NCUA Fair Lending Guide- NCUA Regulatory Alerts and Letters to Credit Unions- Federal Consumer Financial Protection Guide on NCUA website- CFPB website (consumerfinance.gov) - Fair Lending section## Guest InformationJoe Goldberg: Attorney with 40 years of experience, former NCUA staff member, and consumer compliance expert.## Hosted ByMark Treichel

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.Fair Lending Basics with Joe GoldbergIn this episode, Mark Treichel interviews Joe Goldberg, a former NCUA official, about the basics of fair lending for credit unions. Key topics covered include:- Definition and importance of fair lending- Major fair lending laws: Equal Credit Opportunity Act (ECOA), Fair Housing Act, Home Mortgage Disclosure Act (HMDA)- Types of discrimination: disparate treatment vs. disparate impact - NCUA's fair lending examination program- Tips for credit unions to protect themselves and ensure compliance:  - Know the laws and regulations  - Implement a robust compliance management system   - Provide adequate training  - Maintain oversight of lending practices and third parties- Resources for credit unions to learn more about fair lending requirementsKey quotes:"Fair lending is usually looked at by what is prohibited rather than what is required." - Joe Goldberg"Intent is not an element of violating ECOA." - Joe Goldberg"Credit unions try to get it right, but they don't always do that. The more they can educate themselves, the better off they will be and the better off their members will be." - Joe GoldbergResources mentioned:- NCUA Fair Lending Guide- NCUA Federal Consumer Financial Protection Guide- FFIEC website (ffiec.gov)- CFPB website - NCUA regulatory alerts and letters to credit unions

Episode Overview:In this insightful episode of Laugh, Lend, & Eat, we sit down with Jesse Taylor, Director of Compliance Products & Services at Asurity, live from NAMMBA Connect '24. Jesse provides an in-depth look at the critical role compliance plays in the mortgage industry, from ensuring fair lending practices to leveraging data for better business decisions. The conversation explores the challenges of maintaining compliance, the opportunities presented by untapped markets, and the importance of inclusive marketing and representation. Key Themes: The Power of Compliance Data: Jesse discusses how compliance data can reveal untapped markets and lead to new business opportunities, emphasizing that compliance is not just about risk management but also about growth. Fair Lending Practices: Jesse highlights the significance of fair lending, ensuring that lenders are meeting regulatory standards while also expanding access to homeownership in underserved communities. The Importance of Inclusive Marketing: Jesse touches on the role of inclusive marketing, explaining how lenders can avoid common mistakes by ensuring their marketing efforts reflect diversity and do not alienate any group. Quotes from Jesse Taylor's Insights: On Compliance as a Growth Tool:"When you look at how your institution is performing compared to your peers, it's not just a target on your back. It's an opportunity. If your competitors are making loans in underserved areas and you're not, you're leaving money on the table."Jesse emphasizes that compliance data can be used to uncover missed business opportunities, making it a tool for growth as well as risk management. On the Importance of Fair Lending:"Fairness is one of my core values. When I learned about fair lending, I saw the opportunity to combine that value with my love for data. It's about making sure everyone has equal access to financial products."Jesse shares her personal connection to fair lending, underscoring the importance of fairness in the mortgage industry. On Inclusive Marketing:"The right way to approach marketing is to be inclusive and diverse. If everyone in your marketing looks the same, you're sending the message that you're not catering to certain groups. It's about broadening and diversifying your outreach."Jesse explains the importance of diversity in marketing and how it can positively impact a company's reputation and reach. Call to Action:Follow Laugh, Lend, & Eat for more deep dives into the mortgage industry with leading experts. Learn from Jesse Taylor on how to use compliance as a tool for growth, ensure fair lending practices, and create inclusive marketing strategies. Stay tuned for more episodes exploring key trends and challenges in mortgage compliance!

Generative AI is revolutionizing the financial world across sectors. Christopher Calabia, Head of MIT's Central Bank Digital Currency Program, weighs the pros and cons of this new technology while emphasizing regulatory and ethical frameworks. 

In this podcast episode, Dean and Len discuss the timely issue of appraisal discrimination and bias within the context of Fair Lending. Dean highlights the FFIEC's recent guidance on mitigating risks related to discriminatory practices in property valuations and ensuring credible appraisals. Appraisal bias, which can result in minorities receiving lower property valuations, affects credit access and terms and violates anti-discrimination laws like the Equal Credit Opportunity Act and Fair Housing Act. The guidance is relevant for both financial institutions and examiners, emphasizing the importance of internal controls and compliance to avoid legal risks and ensure fair lending practices. Dean provides practical suggestions for lenders, including thorough vendor due diligence, risk assessments, training on bias red flags, and establishing clear processes for appraisal reviews and complaints. Both hosts stress the necessity for financial institutions to address and mitigate appraisal bias actively. Brought to you by GeoDataVision and M&M Consulting

Conquering Redlining and Achieving Fair Lending in Credit UnionsIn this episode of 'With Flying Colors', host Mark Treichel invites Tori Hagerty to discuss the challenges and solutions surrounding redlining in American communities and its impact on fair lending practices. Hagerty, with a background in FDIC examination and the founder of Tuscan Club Consulting, shares insights from his career and his new book 'Thick Red Line'. The conversation delves into the history of redlining, the importance of education, and strategies for credit unions to improve their lending practices. Hagerty emphasizes the need for deliberately anti-racist policies, community needs assessments, the formation of community partnerships, and the development of special credit programs to combat redlining. The podcast also addresses the roles of appraisal bias and real estate agents in perpetuating discrimination and suggests practical steps for credit unions to identify and rectify blind spots in their services.00:00 Maximizing Success with NCUA: Insider Tips and Resources00:44 Introducing Tori Hagerty: Insights on Fair Lending and Redlining05:05 Deep Dive into Redlining: History, Impact, and Solutions07:52 Identifying and Addressing Redlining: Strategies for Financial Institutions12:46 The Role of Advertising in Combating Redlining15:41 Exploring Solutions: From Community Engagement to Special Credit Programs20:27 Appraisal Bias and Its Connection to Redlining30:08 The Broader Impact of Discrimination in Lending and the Path Forward34:27 Closing Thoughts and Resources

Upgrade's visionary CEO, Renaud Laplanche, unpacks his pioneering thinking on consumer finance. He unveils 3 key financial consumer needs and explores the evolving landscape of fintechs — progress, challenges and what's next.

Episode 70 of "Compliance 911, show" titled "2024 Regulatory Hot Topics," discusses the major regulatory challenges facing financial institutions in 2024. Hosts Len and Dean mark their 70th episode, reflecting on various topics covered over the series. They delve into significant regulatory changes including the Community Reinvestment Act (CRA) reforms and Dodd-Frank 1071 rules, highlighting their impact on banks and the ongoing lawsuits challenging these regulations. Additionally, they touch on proposed changes to the Fair Credit Reporting Act (FCRA), slow progress in Anti-Money Laundering rulemaking, and new standards for Automated Valuation Models (AVMs). The episode also covers updates in Fair Lending, digital adaptations for FDIC signs, and mortgage-related regulations, emphasizing their significance for financial institutions in 2024. Brought to you by GeoDataVision and M&M Consulting  

Navigating Fair Lending in the Credit Union Sector: A Conversation with Dana GinsburgThis podcast transcript features Mark Treichel interviewing Dana Ginsburg from Compliance Tech on the hot topic of fair lending in the credit union industry. Ginsburg, who has been with Compliance Tech since 1998, shares her insights drawn from vast experience in studying fair lending, HMDA data, and CRA data, as well as working with lenders, regulatory agencies, and housing groups. She discusses the increased focus on fair lending by the National Credit Union Administration (NCUA), the importance of being proactive in monitoring fair lending, and strategies to address potential redlining issues and appraisal bias. Ginsburg also discusses tools available for credit unions to manage these tasks, including an ebook and other informative resources on Compliance Tech's website.00:00 Introduction and Guest Background01:23 Current Landscape in Fair Lending01:50 Fair Lending Examination Program02:18 Fair Lending in the Credit Union Landscape03:46 Fair Lending and Regulatory Agencies06:00 Proactive Steps for Fair Lending Monitoring06:32 Understanding Your Data07:50 Fair Lending Examination and HMDA Data11:11 Fair Lending and Auto Lending15:38 Appraisal Bias and Redlining27:03 Future of Fair Lending30:05 Conclusion and Final Thoughts

Kwame is the charismatic head of innovation at the Bank of Ghana. He shares advice for regulators on how to adapt to tech transformation and emphasizes collaboration to break down silos and  foster innovation

In this final episode of The Consumer Finance Podcast Year in Review series, host Chris Willis is joined by Tim St. George, a key member of our Consumer Financial Services Litigation team. They discuss the significant developments in consumer finance class action litigation in 2023 and what to expect in the year ahead. Topics include ethical issues associated with class actions, the debate over service awards, attorney-client privilege, and more. Tune in to gain insights from Tim's extensive experience in class action litigation and stay informed about the evolving legal landscape.To download a copy of the Consumer Financial Services Year in Review and a Look Ahead, please click here. For a list of our upcoming webinars, visit our Troutman Pepper Insights page. And to make sure you don't miss another episode of this podcast, please click subscribe.

Join us for an enlightening episode of The Consumer Finance Podcast, where we dissect the intricate world of debt collection, reflecting on the past year and forecasting future trends. This episode, hosted by Chris Willis, features insightful discussions with Stefanie Jackman and Jonathan Floyd, both well-versed in the field of debt collection. We explore significant Supreme Court cases that could reshape the collections landscape, the impact of Regulation F on validation notices, and the complexities surrounding credit reporting and medical debt. Stefanie and Jonathan share their perspectives on emerging trends and potential challenges in the collections industry. This episode is a must-listen for creditors, servicers, and collectors seeking to understand the ever-evolving landscape of debt collection. Stay tuned for the next and final episode of our Year in Review and a Look Ahead series on The Consumer Finance Podcast, providing valuable insights for anyone involved in consumer finance.To download a copy of the Consumer Financial Services Year in Review and a Look Ahead, please click here. For a list of our upcoming webinars, visit our Troutman Pepper Insights page. And to make sure you don't miss another episode of this podcast, please click subscribe.

Join us for the second episode of our Year in Review and a Look Ahead series, where we delve into the fintech world. Our host, Chris Willis, co-leader of Troutman Pepper's Consumer Financial Services Regulatory practice, is joined by James Kim who leads the firm's Fintech practice. They discuss the significant events in the fintech sector in 2023 and what to anticipate in 2024, covering key regulatory developments, the impact of the Consumer Financial Protection Bureau's proposed rules, and the increasing scrutiny of fintech-bank partnerships. Don't miss this insightful conversation as we navigate the evolving fintech landscape. Stay tuned for the next episode of our Year in Review and a Look Ahead series on The Consumer Finance Podcast, providing valuable insights for anyone involved in consumer finance.To download a copy of the Consumer Financial Services Year in Review and a Look Ahead, please click here. For a list of our upcoming webinars, visit our Troutman Pepper Insights page. And to make sure you don't miss another episode of this podcast, please click subscribe.

Michael talks about the global evolution of financial inclusion and the Bill & Melinda Gates Foundation's ongoing efforts. Learn about digital financial inclusion, consumer protection, digital public infrastructure, and barriers to fair finance. 

Please join Troutman Pepper Partners Chris Willis and Michael Lacy for a special inside look at our annual publication of the Consumer Financial Services Year in Review and Look Ahead. In our eighth year of publishing this annual review of regulatory and legal developments in the consumer financial services industry, our team has prepared a thorough analysis of the most important issues and trends across 17 consumer protection areas. For the first time, we are rolling out both webinars and podcasts on select topics to not only provide more in-depth coverage of 2023 events, but also let you know what we expect in 2024. This material will be beneficial to in-house counsel, compliance managers, regulators, and anyone in the consumer financial services space who wants to stay ahead of the curve.To download a copy of the Consumer Financial Services Year in Review and Look Ahead, please click here. For a list of our upcoming webinars, please check out our Troutman Pepper Insights page. And to make sure you don't miss another episode of this podcast, please click subscribe.

Kelly serves on the White House National Economic Council and helped lead the executive order issued in 2023 on AI. She discusses what the order requires, the challenges it aims to address and the upside opportunity of the technology.  

NCUA Board Meeting: Fair Lending, Consumer Compliance, and Vacancy RatesMark Teichel discusses the first National Credit Union Administration (NCUA) board meeting of 2024, emphasizing the introduction of Tanya Otsuka, the new Democrat board member. Key topics include an increase in fair lending exams, consumer compliance, and the NCUA's challenge in filling vacancies. The upcoming priority letter and improvements in the timeliness of exam reports are anticipated. Teichel also highlights the statements made by the three board members post-meeting, indicating a continued focus on fair lending and consumer compliance.00:35 Introduction and Overview of the Episode00:40 Insights from the NCUA Board Meeting01:53 Press Releases and Statements from the Board Members02:21 Chairman Harper's Priorities and Concerns05:57 Vice Chairman Hauptman's Focus on Surveys and Timely Delivery of Exam Reports08:47 New Board Member Otsuka's Emphasis on Fair Lending and Consumer Protection10:52 Discussion on Vacancy Rates and Hiring Challenges12:50 Expectations for the Upcoming Priority Letter13:38 Conclusion and Final Thoughts

Make 2024 your most profitable year yet! With Lender Toolkit's AI-powered AI Underwriter and Prism borrower income automation tools, you'll be able to get loans approved in under two minutes. By providing lightening-fast underwriting decisions, your market reputation with borrowers and Realtors will soar—which means more repeat and referral business. Notes Mark Workens, CEO of Mortgage 1 Inc.: “Lender Toolkit's Maas™ Platform solutions have fundamentally transformed how we do business Our profitability has skyrocketed, and our employees have never been happier.” 

Ever hear of the PRID ETF, LGBT ETF or EQLT ETF?Ever bank with or used Equality Credit Union, Daylight Bank or Superbia Credit Union?There's a good chance you haven't heard of these LGBTQ banks, credit unions or investments and, if you did, you're not using them now because they've all gone away.Why, with $1.4 trillion in purchasing power in our community, have all these LGBTQ banks, credit unions and investments gone out of business?This is Queer Money episode #462. Today, we're joined by Spencer Watson the founder and executive director of the Center for LGBTQ Economic Advancement & Research, aka CLEAR. Spencer's a graduate of Berkeley Law, where they studied consumer financial protection, prudential regulation, lending discrimination and civil rights and then interned at the Consumer Financial Protection Bureau's Office of Fair Lending.We're tackling these questions to help our community start talking more about the opportunities it has with LGBTQ financial institutions and investments. Let's get on with the show.For the resources and to connect with our guests, get the show notes at: https://queermoneypodcast.com/subscribe Follow us:Queer Money Instagram Queer Money YouTubeQueer Money on TiktokDownload your FREE Queer Money Kickstarter a 9-step Guide to Kickstart Your Journey to Financial Independence

In this special episode recorded live at the Annual Conference of the National Bankers Association in Washington, D.C., Jo Ann speaks with three innovators working to help Minority Depository Institutions modernize their technology to continue serving communities of color.

Today's podcast is brought to you by nCino, makers of the nCino Mortgage Suite for the modern mortgage lender. nCino Mortgage Suite's three core products -- nCino Mortgage, nCino Incentive Compensation, and nCino Mortgage Analytics -- unite the people, systems, and stages of the mortgage process. See how nCino can support a homeownership journey that your borrowers and your team will love at nCino.com.

On a broadcast hosted by Dean Stockford, Len Suzio highlights the increase in adverse Community Reinvestment Act (CRA) ratings for banks in the first half of 2023. An article from Standard & Poor indicated that 12 banks received less than satisfactory performance ratings, a jump compared to 14 for the entirety of 2022. Len believes that this rise can be attributed to regulators enforcing stricter performance standards. Evidence for this includes the proposed new CRA Rule, which intends to set higher CRA performance standards. An analysis by bank regulators shows that the new rule would result in a significant increase in the CRA exam failure rate. Len emphasizes that the vagueness in the currently applied performance standards would allow regulators to implement the proposed calibrated standards without officially announcing them. Another notable factor impacting these ratings is the Fair Lending issue and the anti-redlining initiative. Len suggests that banks be aware of these changes and regularly self-evaluate their compliance with these standards.   Brought to you by GeoDataVision and M&M Consulting

In this podcast episode, Dean and Len delve into pivotal questions concerning regulatory compliance in the banking sector. Len highlights the two primary questions every compliance and risk officer should ponder: whether their lending performance meets the expectations of examiners and if the performance is statistically significant.  The conversation comes against the backdrop of changes to the Community Reinvestment Act (CRA) Rule and the Department of Justice's recent focus on the "Anti-Redlining Initiative." Len breaks down the proposed CRA rule, emphasizing performance benchmarks and their significance for banks to ascertain their ratings even before official examinations.  Transitioning to Fair Lending and redlining, the duo discusses the intricacies of "statistical significance" and how it gauges a bank's performance, especially when lending in majority-minority tracts. Despite the challenges, Len elucidates that unfavorable results don't automatically doom a bank. Factors like defining the market accurately and valid explanations for performance trends play a role. Both Dean and Len underscore the episode's timeliness, given the prevailing regulatory atmosphere. They hope listeners find the complex topic both engaging and enlightening. Brought to you by GeoDataVision and M&M Consulting

Discrimination in the credit markets is a persistent problem. Lisa Rice, head of the National Fair Housing Alliance, says we can solve it if we understand the role of structured, hidden bias, and use new technology to root it out.

In this podcast episode, Len and Dean discuss the challenges compliance officers face in keeping up with regulatory changes and guidance. They mention various regulations and topics that have been covered in previous episodes, such as CRA, Fair Lending, Redlining, BSA, AI, and more. They emphasize the importance of staying informed about regulatory changes and offer some techniques for compliance professionals to do so, including creating a regulatory calendar, attending conferences, reviewing internal processes, using compliance software, and building a team. Dean then provides a specific example of recent guidance from the CFPB in June 2023 regarding the use of AI and chatbots by financial institutions. Although the CFPB hasn't released new regulations, they discuss the risks associated with chatbot usage from a UDAAP (Unfair, Deceptive, or Abusive Acts or Practices) perspective. Dean advises compliance officers to gain a comprehensive understanding of their institution's use of chatbots, identify and discuss risks associated with them, ensure adequate testing is performed, provide updated training on compliance risks, and consider updating the complaint intake form to include chatbot interactions. Brought to you by GeoDataVision and M&M Consulting

Following the Federal Housing Finance Agency's Velocity TechSprint, the official leading the agency's conservatorship and fintech strategies joins Jo Ann to discuss all the ways the mortgage market is ripe for a technology overhaul. 

In this podcast episode, Len Suzio and Dean Stockford discuss the implications of the DOJ's “Combatting Redlining Initiative" that was announced in 2021 and the ensuing increase in redlining referrals from bank regulators to the DOJ in 2022. Len believes this issue represents a significant regulatory compliance risk for banks, despite not being convinced of the DOJ's claim of widespread redlining practices today. Len's primary concern is the alleged misuse of the concept of Reasonably Expected Market Areas (REMA) by regulators, which, in his view, has misleadingly expanded a bank's Community Reinvestment Act (CRA) assessment area to include markets that are not practical for a bank to serve. This has been a factor in the record-breaking redlining referrals by bank regulators to the DOJ. Len further explores commonalities among redlining cases, which mostly center on banks' inadequate procedures for identifying redlining risk exposure. He asserts that all lenders should promptly review their systems and procedures for identifying and monitoring potential redlining situations, ensuring they're not only adequate but also consistently implemented. The topic of REMAs versus CRA Assessment Areas is expanded, indicating that lenders should consider these as potentially different and evaluate their standing in relation to each. Len and Dean discuss key factors for REMA consideration, as described in the 2023 Fair Lending examination procedures, and the potential consequences if a bank's lending in REMA minority communities is statistically significantly low. Brought to you by GeoDataVision and M&M Consulting  

In the journey towards achieving fair lending in auto loans, we bring together data-driven compliance and a culture of equality. This powerful combination guides the industry towards a future that is brighter and more inclusive for both lenders and borrowers. In this episode, we have Mike Taliefero, Co-Owner of Compliance Tech, to discuss auto lending and fair lending. Mike kicks off by discussing the significance of fair lending analysis in the context of auto loans, especially within the indirect lending market. He sheds light on the key factors that can give rise to potential fair lending issues in auto lending. He also examines how credit unions usually evaluate fair lending compliance during the car loan process and the important roles that data analysis and technology play in this evaluation. Mike shares real-life examples, showcasing the types of data that are analyzed to ensure compliance and foster transparency. Mike shares the best practices for lenders to comply with fair lending regulations while remaining competitive with loan options for consumers. The road to fair lending is not without challenges, but with the right data and strategies, companies have a high chance of thriving. Tune in and learn how to create a future where fairness is a fundamental principle of the lending industry, benefiting both lenders and consumers.

Jesse Van Tol, CEO of the National Community Reinvestment Coalition, joins Jo Ann for a discussion on the upsides and downsides of technologies designed to expand access to homeownership and small business capital.

In this episode, host David Baris is joined by Troutman Pepper Partners Lori Sommerfield and Chris Willis to discuss changes in fair lending regulation and supervision that represent new challenges to banks and their directors and officers. They are co-authors of the Practical Handbook on Fair Lending for Bank Directors and Executive Officers, 2nd Edition. Lori and Chris identify the important changes that have occurred since the Handbook's first edition in 2016, including more regulatory emphasis and actions relating to redlining, disparate impact, and redefinition of the statutory term “fair” to include discrimination. At Troutman Pepper, Lori and Chris represent banks, bank directors, and other bank officers in fair lending compliance, enforcement, examinations, and litigation.  ***** Thanks to our guests: Lori Sommerfield: https://www.troutman.com/professionals/lori-sommerfield.html  Chris Willis: https://www.troutman.com/professionals/chris-j-willis.html  Calling All Bank Directors is the podcast of the American Association of Bank Directors. AABD has been your advocate since 1989 and our podcast, hosted by AABD President David Baris, is designed to keep you well informed to help protect both you and your bank. Questions? Contact dbaris@aabd.org.

In a recent episode of the Risk Intel Podcast, Laura Kornhauser, the co-founder and CEO of Stratyfy, shared her insights on the role of Bayesian Improved Surname Geocoding (BISG) in fair lending testing. With her banking background and a passion for responsible artificial intelligence (AI), Laura's journey led her to found Stratyfy, a company dedicated to providing transparent, interpretable, and compliant machine learning solutions for banking. Follow us to stay in the know!

Please join Troutman Pepper Partners Chris Willis and Lori Sommerfield, along with American Association of Bank Directors (AABD) President David Baris, for a special announcement about the recently published second edition of the Practical Handbook on Fair Lending for Bank Directors and Executive Officers (AABD Handbook). The updated AABD Handbook addresses the dramatic shift in the regulatory landscape for enforcement of the federal fair lending laws over the past decade, with aggressive enforcement of the Equal Credit Opportunity Act and Fair Housing Act by federal agencies (including the CFPB, U.S. Department of Justice, and federal banking agencies) under various presidential administrations.The AABD Handbook is designed to raise awareness and provide education to bank directors and executive officers about federal fair lending laws and related laws, as well as offer guidance to directors and executive management on their roles in providing meaningful oversight for fair lending risk management. The AABD Handbook also describes best practices to enhance banks' fair lending compliance programs to meet regulatory expectations. For this reason, the AABD Handbook serves as a helpful resource for others, including chief risk officers, chief compliance officers, and fair lending officers.The AABD Handbook is available for purchase through Amazon in paperback and e-book formats.David Baris serves as the president of the American Association of Bank Directors (AABD). He has led AABD since its founding in 1989 to provide bank directors the resources with which to serve their institutions effectively and in a manner that minimizes the risk of personal liability consistent with safe and sound banking practices. AABD supports bank directors through its advocacy, information, and training initiatives.David was a banking law partner with several law firms for many years, including Kennedy & Baris, which he co-founded, and later the Buckley law firm in Washington, D.C. Earlier in his career, he served as counsel to an oversight subcommittee of the House Government Operations Committee and legislative counsel to a member of Congress. Mr. Baris has authored seven books and numerous articles on bank director issues.

This podcast episode discusses Fair Lending and focuses on examiner comments and specific examples of issues from regulators. The hosts, Len and Dean, discuss a scenario where a Compliance Officer or Fair Lending Officer in a community bank reviews loans for evidence of disparate treatment (Redlining). They find a series of portfolio loans where the borrowers received more favorable terms in the form of a better rate, and in each case, all were white men applying alone. Upon further review, they find that these exceptions were never submitted to the loan committee for approval, which is required by policy. The episode then lists several examiner comments on Fair Lending, including appropriate documentation of exceptions within files, tracking mechanisms for exceptions, and reviewing exception log reports periodically. They caution against the quality of fair lending risk assessments, which must include sufficient qualitative and quantitative detail as to the overall risk profile of the institution.   Brought to you by GeoDataVision and M&M Consulting

Hand, the Director of Financial Fairness Advocacy at Consumer Reports, leads the magazine's initiative to evaluate new fintech products to give customers greater awareness of the rapidly changing financial services market. The ratings system could be a game-changer for pricing and product development.

This episode of the Extra Credit Podcast is Part Two of our conversation with, Philip Bohi, VP of Compliance Education and Dr. Adam Gailey, Principal in the Financial Economics Practice at Charles Rivers Associates, on getting your Fair Lending house in order. In the last episode, Dr. Gailey and Philip discussed the things that you can control, like underwriting, servicing and other processes. In this episode, the two compliance experts discuss what you cannot and what's coming down the pike. 

In this episode of the podcast, Philip Bohi, VP of Compliance Education talks with Dr. Adam Gailey, Principal in the Financial Economics Practice at Charles Rivers Associates, on getting your Fair Lending house in order and looking carefully at questions surrounding things you can control like underwriting, buy rate setting and servicing. State and federal regulators are examining underwriting practices, rate-setting and servicing more than ever before. Dr. Gailey has worked on numerous DOJ and CFPB investigations, class-action lawsuits, and regulatory compliance cases, that typically involve providing statistical and economic analyses of large amounts of data focusing on issues related to the use of overdraft protection, indirect auto finance, redlining, and fair lending. A second episode, coming next week, will delve into what you can't control and what to expect next.  

As its potential uses soar, Artificial Intelligence (AI) continues to attract the attention of multiple regulatory agencies. A recent high-profile U.S. Senate hearing made it clear that the use of AI must be consistent with federal laws pertaining to fair lending, housing, employment, and similar situations. Jones Day's Dorothy Giobbe and Alexander Maugeri discuss the legal implications of introducing artificial intelligence to decision-making processes and how users should prepare for increased scrutiny.

In Episode 50 Len and Dean explore the issue of Fair Lending as it relates to appraisal bias. This emerging issue can lead to illegal discrimination within the appraisal process, impacting generational wealth building for minority consumers. Len and Dean discuss appraiser independence, the 2008 financial crisis, and how lenders can protect themselves against appraisal bias and potential liability under ECOA and FHA. Suggestions include thorough vendor due diligence, incorporating appraisal bias risks into fair lending risk assessments, training personnel on fair lending and appraisal bias red flags, and establishing clear processes for reconsiderations and appraisal complaints. Tune in to this insightful conversation as Len and Dean delve into the complexities of appraisal bias and its significant impact on consumers and the lending industry.   Brought to you by GeoDataVision and M&M Consulting

Kareem Saleh, founder and CEO of FairPlayAI, has been working on financial inclusion and underwriting hard-to-score borrowers his entire career. He recently spoke with THE SCORE about the role artificial intelligence can play in supporting fair lending and how greater focus on fairness can actually drive revenue. 

In this episode, Jo Ann interviews the most famous generative AI. The chat is “unsmart” but it gave responses to complex questions that were accurate and displayed the ability to grasp subtle issues.

Gwen Goins is not only the 2023 Chair of the KCRAR Diversity, Equity and Inclusion Committee, she is also a tenured mortgage professional, and she joins us on this episode to talk about fair lending. What can agents do to help their buyers with all types of financing? Bobbi's Book Bit: The Compound Effect by Darren Hardy

The Townstone Financial Case is the second suit against the CFPB (Consumer Financial Protection Bureau), which has been aggressively pursuing redlining claims against independent mortgage bankersover the past couple of years. This time, it lost, and this landmark case gives us key takeaways on just how much power should be in the hands of the CFPB and how do we know it is already overstepping its bounds. Joining the show to explain the case is Mitch Kiderof the WBK Firm. Mitch believes that the Townstone Financial Case is an important one from an administrative law perspective because it clearly defined the bounds of the CFPB's authority.Although this would hardly undo the damage that the CFPB has already done to countless companies, this is a positive step towards fairer regulation in the industry. Learn more from this episode.

While Fair Lending remains a hot topic, do not forget about the technical provisions of ECOA and FHA.   Brought to you by GeoDataVision and M&M Consulting

We first review the origins of mortgage redlining and discuss the concept of reverse redlining and new theories of redlining. We then look at a wide range of topics including: the application of redlining enforcement to non-banks; the use of the Equal Credit Opportunity Act and Fair Housing Act to challenge redlining; activity at state level targeting redlining; the types of evidence regulators will look for when examining for redlining or bringing an enforcement action; potential penalties for redlining violations; what steps may be required for remediation of redlining; and how a bank or non-bank can build a compliance program to avoid redlining. Alan Kaplinsky, Ballard Spahr Senior Counsel in the firm's Consumer Financial Services Group, hosts the conversation joined by Richard Andreano, a partner in the Group and Leader of the firm's Mortgage Banking Group.

This is a quick take with Joe Goldberg - former head of NCUA's Fair Lending Program.NCUA examines federal credit unions with assets less than $10 billion; state supervisory authorities examine state-chartered credit unions with assets less than $10 billion; and the CFPB examines credit unions with assets over $10 billion.NCUA offers a number of fair lending resources for credit unions which are available on the Fair Lending Compliance Resources page. Materials include a fair lending guide, regulatory alerts, webinars, HMDA resources, exam procedures, and other related information.Fair lending laws and regulations include: the Equal Credit Opportunity Act (ECOA), and its implementing regulation, Regulation B; the Home Mortgage Disclosure Act (HMDA), and its implementing regulation, Regulation C; and the Fair Housing Act (FH Act). In addition, the National Credit Union Administration (NCUA) regulations contain nondiscrimination requirements for real estate-related loans. See 12 CFR § 701.31.At the conclusion of a fair lending examination, a credit union will receive a written examination report including an Overview, Supplementary Facts, Findings, Loan Exceptions and, if applicable, a Document of Resolution.At the conclusion of a supervision contact, a credit union will receive written results including an Overview, Supplementary Facts, and Findings. If the off-site supervision contact identifies deficiencies, OCFP will provide recommendations for corrective action.

This podcast focuses on Compliance Management Systems. With everything coming at us from CRA, Fair Lending and UDAAP, it is imperative that financial institutions revisit CMS to ensure effective management.   Brought to you by GeoDataVision and M&M Consulting

When it comes to credit transactions or lending, redlining is a real thing. Fair lending must be the standard. So in order to help prohibit these acts of discrimination, Mike Taliefero co-founded ComplianceTech. And together with his business partner was able to develop software that is capable of combining HMDA data with loan origination data. Their suite includes Lending Patterns, CRA Check, Fair Lending Magic, Fair Servicing, and more. To learn more about ComplianceTech and fair lending, join Mark Treichel as he talks to the co-founder of ComplianceTech Mike Taliefero. Discover how and why ComplianceTech started. Learn how a fair lending compliance program should look in terms of staffing, organization, and scope of review. It's all about due diligence and Mike believes in that. Learn more about what ComplianceTech offers today.

Access to credit is the key to opportunity and upward mobility for millions of Americans, yet less than half of Americans have access to prime credit today. AI and machine learning are helping lenders identify creditworthy borrowers without increasing risk, but some have questions about how these new technologies apply to Fair Lending laws. Annie Delgado, Chief Compliance Officer at Upstart , has been actively engaged in working with regulators on fair lending practices and shares how Upstart works to prevent bias in its AI algorithms. Join us as Jeff and Annie discuss: Policy implications of use of new technologies (like AI) in lending How to interact with regulators in this new space of AI and lending Why fair lending is a policy issue we need to be concerned about

This episode of the CRA Podcast highlights the community development work of Joshua Kummer of Bankers Trust. Joshua is the bank's CRA and Fair Banking Officer overseeing the bank's Fair Banking Program, which includes CRA, Fair Lending, HMDA, UDAAP, and Complaint Management. You will find Joshua to be very passionate about this work and this episode shares the high impact community development partnerships he has forged within his community. Not only does he have the heart for this work; you will also hear how his passion and drive has helped Bankers Trust sustain an Outstanding Community Reinvestment Act (CRA) rating!Here are the programs that are referenced within the episode:Community Development Financial Institutions (CDFI) Involvement Iowa Community CapitalSolidarity Microfinance is a non-profit program of Iowa Community Capital to create economicopportunities through small business loans, training and support, and savings services.ICC's Solidarity Microfinance program provides small loans of $500 to $8000, savings services, and financial learning opportunities for eligible low-income entrepreneurs in the Greater Des Moines Metro Area. The Solidarity Microfinance program uses Grameen peer-group lending methodology and targets women entrepreneurs from diverse new resident cultures. Neighborhood Finance CorporationNFC provides unique lending programs and other services to facilitate neighborhood revitalization in Polk County and Cedar Rapids, Iowa through partnerships with residents, governments, community-based organizations, lending institutions and the business community. For more information on our programs and services, please visit our Loan Programs page. NFC is a proud Chartered Member of NeighborWorks America. TrellisTrellis (originally started as Neighborhood Housing Services of Phoenix) was formed in 1975 with help from the City of Phoenix and NeighborWorks America. NeighborWorks America is a national nonprofit organization, federally funded by appropriations from Congress that provide financial support, technical assistance and training for community-based revitalization efforts in all 50 states.Access to homeownership is for all of us. Individuals and families become stable and more economically secure; neighborhoods become vital, active communities; and cities gain jobs and tax revenues. It's an investment with positive returns for everyone.                Other Community Involvement InitiativesHOME, Inc.HOME, Inc. is the oldest private nonprofit housing organization in Des Moines. Our mission is to meet individuals and families where they are in their housing journey. We surround our clients with compassion, support, and education so they feel empowered to make a safe, stable home for themselves or their family.  To accomplish our mission, we…– Provide counseling and education to help people become successful homeowners, landlords, and tenants.– Develop, rehab, and build affordable housing units.– Help families through counseling and education to become homeowners.          Newtown Community Development CorporationOur mission is to help people improve their financial well-being while strengthening communities through education, counseling, coaching, and the development and stewardship of permanently affordable homes.Newtown Community Development Corporation (Newtown) is a Tempe-based nonprofit founded in 1994. Newtown is recognized throughout the Phoenix Metro Area as a leading provider of homebuyer education, homeownership counseling, credit counseling, financial coaching, financial literacy education, and down-payment assistance. Newtown is a HUD-Approved Housing Counseling Agency and adheres to national industry standards for homeownership education and counseling.  Services are provided in English and Spanish.Newtown also operates an innovative Community Land Trust, which builds and renovates permanently affordable houses, providing successful homeownership opportunities for generations of lower-income families. Created in 2001, Newtown's Community Land Trust is the largest in Arizona with homes across Maricopa County.BIOJoshua Kummer is the AVP, Fair Banking Officer at Bankers Trust; Iowa's largest privately owned bank headquartered in Des Moines, Iowa with assets totaling over $6 billion. The bank operates branches in Central Iowa, Cedar Rapids, IA, and Phoenix, AZ, as has offices in Omaha, NE and Sioux Falls, SD. Joshua started his banking career over 11 years ago as a part-time teller while attending college. Since then, he's held various positions including Personal Banker, Sales & Service Manager, Branch Manager, CRA Officer and now Fair Banking Officer. He holds two compliance-related certifications: Certified Community Bank Compliance Officer (CCBCO) and Fair Lending Expert (FLE). He is also involved in his community and currently sits on the Neighborhood Finance Corporation Board of Directors, Greater DesMoines Habitat for Humanity Access to Credit Committee, Iowa Bankers Association DEI Committee and Special Olympics Iowa Fundraising Committee. Joshua has a passion for ensuring customers receive fair and equitable treatment while banking with Bankers Trust and advocates for those with limited financialresources. Bankers Trust: As Iowa's largest privately owned bank, Bankers Trust serves the personal and business banking, lending and wealth management needs of our community.Bankers Trust Core Value: CommunityWe will strive to be the best corporate citizen by supporting diverse community organizations, both financially and through employee volunteerism. We invest in the community by nurturing and encouraging growth, stability and continued success.

Isaiah 5 and 6 delivers a powerful prophetic word that is as timely today as it was when it was first written and while it reveals destruction and misery, it provides hope for God's children. This includes victims of redlining, gentrification and other injustices that have gone on virtually unnoticed by most of the world. Yes, laws have been passed to stop this racially charged crime, however it still persist today and in some ways most are unaware of. Thank you for being a part of "Isaiah Prophecy & 3 Ways to Mitigate Redlining Risk" by Joshua 'The World's Mayor', on the Live Mana Network, brought to you by the Live Mana Worldwide Foundation. The Live Mana Network is broadcast all over the world on your favorite streaming audio and video platforms like Apple TV, ROKU, Amazon Fire, and iTunes. You can also find us on Google News, and other print mediums. Be blessed, Joshua T Berglan

Isaiah 5 and 6 delivers a powerful prophetic word that is as timely today as it was when it was first written and while it reveals destruction and misery, it provides hope for God's children. This includes victims of redlining, gentrification and other injustices that have gone on virtually unnoticed by most of the world. Yes, laws have been passed to stop this racially charged crime, however it still persist today and in some ways most are unaware of. Thank you for being a part of "Isaiah Prophecy & 3 Ways to Mitigate Redlining Risk" by Joshua 'The World's Mayor', on the Live Mana Network, brought to you by the Live Mana Worldwide Foundation. The Live Mana Network is broadcast all over the world on your favorite streaming audio and video platforms like Apple TV, ROKU, Amazon Fire, and iTunes. You can also find us on Google News, and other print mediums. Be blessed, Joshua T Berglan

Fair Lending remains a hot area of interest for regulator's. Brought to you by GeoDataVision and M&M Consulting

This podcast covers the implementation of the new 2020 Census tracts effective January 1, 2022. It covers the impact of the new tracts for CRA in terms of the Community Reinvestment Act and Fair Lending. The new tracts are effective retroactive to the beginning of 2022.   Brought to you by GeoDataVision and M&M Consulting

Please join Consumer Financial Services Partner Chris Willis and his guests and colleagues Stefanie Jackman and Sarah Reise as they discuss the intersection of fair lending with collections. They cover which types of third-party debt collection processes could be subject to a fair lending review, the difference between disparate treatment and disparate impact, how the CFPB may review collection-related decisions, what a basic fair lending analysis may look like for collectors, the processes likely to be targeted for a fair lending review, and what collectors can do now to update their compliance management system and assess their operations to identify and mitigate potential fair lending issues.Consumer Financial Services Partner Stefanie Jackman focuses a significant portion of her practice on providing compliance-related advice to her clients. She regularly counsels clients on conducting compliance assessments relating to their debt collection, credit reporting and dispute resolution processes, fair lending and underwriting, and vendor oversight, as well as the functionality of their overall compliance management system.Sarah is counsel in the firm's Consumer Financial Services Practice Group where she represents clients in financial services and mortgage banking in cases involving all aspects of consumer financial services and products, including claims arising under state and federal lending statutes and consumer protection laws, such as the Fair Credit Reporting Act (FCRA), the Fair Debt Collections Practices Act (FDCPA), the Real Estate Settlement Procedures Act (RESPA), and the Truth in Lending Act (TILA).

We had hoped to post this episode during Pride Month and didn't quite make it, but, of course, the topic is timeless. My guest is Rob Curtis, CEO and Cofounder of Daylight, a fintech startup that focuses on serving LGBTQ customers. In our conversation, Rob shares the story of why and how Daylight came to be. He talks about the stigma and bias encountered by LGBTQ people in seeking financial services; about the unique kinds of financial needs they experience in their lives; and about other challenges that affect them disproportionately.

Shelley Metz-Galloway, US lead of Protiviti's regulatory compliance practice, talks with Mary Bailey, regulatory compliance expert, about the US Community Reinvestment Act and how upcoming changes to the rule should improve access to credit and have a big impact on banks' compliance and reporting. Show Notes 01:37 Career Journey 08:21 International Efforts 10:19 CRA and Fair Lending 12:31 What the CRA Changes Mean for Banks Learn more and subscribe: https://www.riskywomen.org/2022/06/podcast-s5e3-cra-and-fair-lending-mary-bailey/

Fair Lending laws are meant to protect Americans when they're applying for things like loans, mortgages and credit cards from discrimination based on their race, national origin gender and more. But our new report finds opportunities to enhance…

Organizers behind three high-profile proposed laws in Michigan skipped a deadline to potentially appear on November's ballot. Instead they will look to get the initiatives approved by the Republican-controlled Legislature. Let MI Kids Learn provides tax breaks so public money can be used toward scholarships at private schools. Secure MI Vote would change ID requirements for voters. Michiganders for Fair Lending is proposing to cap payday loan rates. Lawmakers will look to use a provision in the Michigan Constitution to get their proposed laws passed. Some petition organizers say they are concerned after several Republican candidates recently had petitions rejected for fraudulent signatures.

Ken is joined by Josh Hovey, Spokesperson, Michiganders for Fair Lending  See omnystudio.com/listener for privacy information.

This podcast will give you a peak inside the current regulatory arena. Brought to you by GeoDataVision and M&M Consulting

Fair lending guarantees that everyone has equal access to lending opportunities. This puts everyone on an even footing and avoids discrimination. In this episode, Mark Treichel speaks with Subject Matter Expert Joe Goldberg on all things related to Fair Lending. While at the NCUA, Joe supervised their Fair Lending Program. Joe knows what examiners look for, which he discusses here in great detail. Join the discussion and learn more about fair lending and how it helps credit unions.

What story does your HMDA data tell? In this episode, Rafael DeLeon talks with Bobbie Kennedy, a former Technical Expert in CRA & Fair Lending for the OCC. Their conversation takes a deep dive into HMDA systems and processes, including a focus on where your FI's board of directors should direct their attention, and what controls, policies, and procedures need to be in place for HMDA data integrity.

In this episode, we discuss compliance hot topics in 2022 with MBA's Compliance Department. Senior Vice President Carol Barnett, Vice President Gina Jolly and Vice President Bryan Bradley dive into a wide range of topics, including overdraft protection, the explosion of buy now pay later, Reg E, Fair Lending and HMDA. They also discuss what they're hearing from examiners and recent issues cropping up in bank reviews around the state. For references provided during the podcast, check out the links below.CFPB Prioritizing Resources Against Racial Bias in Home Appraisals | Consumer Financial Protection Bureau (consumerfinance.gov) Federal Housing Administration “HUD Reinforces Appraisal Fair Housing Compliance and Issues Updated General Appraisal Requirements” SFH_FHA_INFO_21-101.pdf (hud.gov) 

Kerri Smith, the Greenville City Executive of Self Help Credit Union and member of the SC Fair Lending Alliance joins us to talk about capping the interest rate in SC. Currently, there is no cap for interest rates in SC, which allows lenders to charge three figures in interest rates, perpetuating poverty and the debt trap. Listen and learn how you can join us in advocating for fair lending and financial equity for all.

This podcast will cover the Fair Lending exam process and prep. Brought to you by GeoDataVision and M&M Consulting

In this episode of Perfect Balance: An Advertising Law Podcast, host Po Yi is joined by new Manatt Financial Services partner Bryan Schneider, who recently arrived at Manatt after serving two years as Associate Director for the Division of Supervision, Enforcement and Fair Lending at the CFPB. Po and Bryan discuss some important regulatory considerations for advertisers in the financial services space, including: Anticipated enforcement priorities for the CFPB, and how Director Chopra's former position as a Federal Trade Commissioner may factor in these priorities The increasing focus of the CFPB to support racial equity and inclusion across the financial services marketplace Marketing to vulnerable populations, such as the elderly and students Artificial intelligence (AI) and machine learning's impact on loan origination decisions Best practices to mitigate risk and penalties in this new era of the CFPB

In this episode of Commitment Matters, Mary speaks with Erica Meyer, Owner and Publisher of October Research. Erica can be reached via email at: emeyer@octoberresearch.com During their conversation, Erica or Mary mentioned:The Title Industry has been slow to adopt technology but the pandemic has spurred it forward. What's next for Real Estate technology?The National Settlement Services Summit (NS3) is an annual gathering, hosted by October Research, of all parties in the real estate transaction to learn from each other and collaborate.The Summit features two main tracks, one focused on innovation and the other on compliance.With more than sixty presenters, Erica highlighted this year's keynote speakers: Brian Montgomery, Chairman & Founding Partner of Gate House Strategies LLC, Kathy Kraninger, VP Regulatory Affairs for Solidus Labs and Former Director of the CFPB, Gino Blefari CEO of HomeServices of America, and Stanley C. Middleman CEO of Freedom Mortgage.Mary and Erica spoke highly of the Summit's recurring Regulator Panel and the desire attending regulatory leaders have to engage with title agents in order to understand the impact of upcoming legislation. Susan Apel leads this year's session.Cannabis is still big news for the Title Industry, so one NS3 session will dive into how states are moving forward with medical and recreational allowances – and all the confusion this creates. Richard Brahmel and Art Davis lead this session.This year's Summit will include a round table, Women in Business breakfast. Topics will include work life balance, overcoming fears with confidence, and how to better support one another. Erica mentioned her love for the book Lean In Sheryl Sandberg.It's true…there are more jobs open than applicants right now, leaving title companies challenged to entice candidates into the industry.Erica mentioned the current popularity of mergers and acquisitions in our industry. Here's more on that. And, as noted, business loans are abundant right now. Here's insight from Newsweek on the topic.Cyber Security, Data Privacy and Wire fraud remain hot topics. Check out what recent podcast guest Chuck Cain offers on the matter, or our Tyler Adams episode to learn practical tactics to better protect your company from fraud.Last month, Colorado became the third state to pass comprehensive Consumer Privacy Legislation. Erica and her team vow to keep you updated as more states do the same.We can't go an episode without touching on RON and RIN. This was no exception as Erica noted the minute-by-minute updates to its surrounding legislation.Fair Lending will be much discussed at NS3 – as it is throughout the industry.We're still awaiting the confirmation of Rohit Chopra – and what the CFPB will be like once he's in office, but NS3 attendees will learn more in the closing keynote. And, podcast listeners may remember Steve Gottheim's insights on the matter.Want to submit a story or idea for October Research?If you'd like to contact the Commitment Matters podcast, email podcasts@ramquest.com. Don't forget to subscribe, rate, and review this podcast on Apple Podcast, Spotify, or wherever you listen to podcasts, or visit RamQuest.com/podcast to download the latest episode. Lastly, we love to see when and how you're listening. Share our posts, or create your own and tag them: #CommitmentMattersPodcast

We look at the practices found to be unlawful by CFPB examiners in these markets, discuss what the findings signal for future scrutiny of these markets by the “new CFPB”, and share practical takeaways for companies operating in these markets. Issues highlighted in our conversation include the CFPB's findings regarding “unreliable furnishers,” furnisher handling of “frivolous or irrelevant” disputes, interest accrual on debts in collection, and mortgage servicer consideration of private mortgage insurance termination dates when estimating disbursements in an annual escrow analysis. Ballard Spahr Senior Counsel Alan Kaplinsky hosts the conversation, joined by Chris Willis, Co-Chair of the firm's Consumer Financial Services Group, and Reid Herlihy, a partner in the firm's Mortgage Banking Group.

In this episode of Commitment Matters, Mary catches up with Chuck Cain, Senior Vice President - National Agency for the FNF Family of Companies. You can reach Chuck via email at charles.cain@fnf.com or listen to him on the FNF Unplugged podcast.During their conversation, Chuck or Mary mentioned:The real estate industry is evolving in how it conducts business. Check out this article to learn more about what is disrupting the traditional business model and learn about upcoming trends will further impact it.Here's a breakdown of how the RedFin model works.Chuck mentioned a report from the Inman Headline, noting how teams are also becoming more important to the Real Estate industry. Here is Inman's Essential Guide to Real Estate Teams.It's said there's an 80/20 rule regarding how many agents produce the bulk of business. This article with statistics ranging from 2017-2019 sheds more light.RIN, RON, and AVON…Capital Title Insurance Agency drafted this quick-reference to all things electronic closing.Get up to speed on iBuyers and SPACs. As Chuck noted, such companies are expanding into smaller communities, not just urban settings. In 2020, Forbes offered a look at the top ten cities for potential iBuyer growth.Mary says, “nope;” would you buy a car from a vending machine?Redfin reported more and more buyers are closing on a home without seeing the property.The National Association of Realtors (NAR) offers this advice in creating a social media usage policy and Inman offers this insight on avoiding legal landmines with social media.Chuck mentions co-marketing regulations, as well. Here's what the NAR suggests.Here are the CFPB FAQs regarding RESPA Section 8.Check out this overview of how the CFPB may shift under President Biden. Side By Side is a guide on Fair Lending from the FDIC. Plus, the National Fair Lending Alliance's website is filled with resources.The CFPB versus Townstone Financial Inc.: get the scoop on how the “Feds say radio statements by Townstone Financial reps amount to ‘redlining' Townstone says it's an attempt to ‘cancel' silence free speech.”Chuck mentions The New Urban Crisis by Richard Florida.Organized Cyber Crime is real. It's no longer a single hacker targeting businesses, it's a whole team.Tom Cronkright of CertifID highlights a rise in cybercrime, sourced from the FBI's 2020 Internet Crimes Report.As Chuck mentions, congress is increasing its focusing on the protection of personal information. Here's a look at the expansion of DC's law, California Privacy Act, and New York's pending legislation. Risk Management: third Party providers must also be considered when it comes to NPI.Here's more on a need for lenders to consider real-time quality assurance.Chuck quotes Shoshana Zuboff's book, The Age of Surveillance Capitalism.Deep dive into the details of privacy disclosure do's and don'ts.Here are resources and templates for the ever-important (if not frequently read) Master Closing Instructions and Service Level Agreements (SLAs).As noted, mortgage lenders experienced an increase in profit margins with the refinance boom of 2020, but looking forward, expect them to shrink.Learn more about Business Intelligence (BI).Technology and automation are driving US Banks to cut as many as 200,000 employees in the next decade.Here's a bit more on Warehouse Lending and how digital mortgages are reducing lag time.Remember Blockchain? You can also learn more about the Torrens System.MBA's website offers several compliance resources. Learn more about fourth party compliance issues.Catch up on the decade-long fight over the CFPB's existence, plus read an update since the episode was recorded: the Supreme Court ruled on the FHFA leadership; President Biden responded.Have you read Acting Director Dave Uejio's statement of priorities, including COVID-19 related hardship?It seems the days of $1 CFPB fines are over. Chuck mentions the CFPB's case against PHH, which was dismissed in 2018. Read more.The CFPB is hiring!Mary and Chuck discussed the Positive Pay system - its benefits and shortcomings.Here's a primer on all thing mortgage fraud and an overview of how AI enhances the consumer experience even as it evolves to aid in fraud protection.Chuck mentioned hearing Garth Graham of the Strathmor Group speak at an MBA conference about the cost and usage of technology. Here's an in-depth article he wrote on this digital transformation.You can deep-dive into all things SOC 2 related here.If you'd like to contact the Commitment Matters podcast, email podcasts@ramquest.com. Don't forget to subscribe, rate, and review this podcast on Apple Podcast, Spotify, or wherever you listen to podcasts, or visit RamQuest.com/podcast to download the latest episode. Lastly, we love to see when and how you're listening. Share our posts, or create your own and tag them: #CommitmentMattersPodcast

This Podcast will discuss Small Business Lending Data Collection Rulemaking for Fair Lending.   Brought to you by GeoDataVision and M&M Consulting

This podcast is focused on regulatory changes and regulatory expectations for Fair Lending in 2021.   Brought to you by GeoDataVision and M&M Consulting

This week we sit down to chat with Tammy Butler, CMB from Fair Lending Diversity Find Tammy here: ​https://www.linkedin.com/in/tammy-butler-master-cmb-lss-black-belt-a88a613/ ​ https://fairlendingdiversity.com/ Email us: Lendingleaders@lssoftwaresolutions.com

Regulatory changes have long been expected with the administration change in Washington, D.C. As the dust beings to settle on the transition, new priorities for Democrats on Capitol Hill are becoming evident — specifically a federal all-in interest rate cap. But how likely is such a bill to pass both the U.S. House of Representatives and the Senate, and what might the auto finance industry have to do to combat a regulation that could push some subprime consumers out of the market?

This podcast highlights key areas of concern on CMS as a result of the pandemic. Areas impacted include BSA, Fair Lending, Consumer Regulations. Brought to you by GeoDataVision and M&M Consulting

After the financial strain 2020 put consumers in, banks and credit unions can't afford to overlook opportunity segments “hiding” in plain sight – especially when they're both digitally savvy and offer growth. Host Monique Ruiz discusses reaching the underserved and underbanked through hyperlocal community involvement with Claritas' Catherine Spisszak and Coopera Consulting's Victor Corro. Listen now for actionable advice, applicable across industries. Read about the 10 questions you should ask before incorporating email into your marketing plan: https://bit.ly/2ZmhUCe Listen to the Finance Industry Segmentation & Fair Lending episode: https://claritas.com/claritas-podcast/finance-industry-segmentation/ Download the Hispanic Financial Product Usage and Behaviors insights sheet: https://claritas.com/resources/hispanic-financial-insights/ Read Coopera Consulting's Action Guide for Serving the Hispanic Market: https://www.cooperaconsulting.com/hispanic-expertise.cfm?ID=864C8570-1C23-D4F9-7429-276C09D27DD3 Connect with Coopera Consulting: https://www.cooperaconsulting.com/ Download more podcast episodes: https://open.spotify.com/show/0bCxDLausUUWlgsr3XwxuT Learn about Claritas and find your best customers: https://claritas.com Find us on Facebook: https://www.facebook.com/Claritas2.0/ Connect with us on LinkedIn: https://www.linkedin.com/company/claritas_mbs/ Follow us on Twitter: https://twitter.com/Claritas2_0

Today's HousingWire Daily interview features an interview with Monique Winston, the vice president and a national business development executive, and chair diversity and inclusion council member at WFG National Title Insurance company. In this episode, Winston discusses her work as a nationally renowned minority business advocate. HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

Today's episode we chat with Jamie James, co-founder of Building a Financial Future in Chicago, Illinois. We spoke all about FAIR LENDING practices with big banks, and things for consumers to be aware of as they go through the lending process. Jamie gives solid advice on how to speak out against injustices from lenders, and some of the positive changes in the lending industry. Check out BaFF's website https://buildingafinancialfuture.org/ or their Instagram page @bafinancialfuture  Do you have a question for us or suggestions for future episodes? Check out our WEBSITE where you can leave us feedback regarding what YOU want to hear more of! You can also email us at thepriceofavocadotoast@gmail.com  Follow us on Instagram and Twitter! -Book your FREE financial coaching consultation with our Financial Coach, Ryan @mefinanciallyfree on Instagram. Type the code HELP50 in the consultation notes.  -Music by Producer Bearcatshark. Follow @bearcatshark on Instagram! Music available on all streaming platforms.

Are you overspending? Perhaps too highly leveraged with credit? Individuals must plan for the unplannable. Fair Lending Officer of Allegiance Bank Rickey Jimenez provides valuable insight into how people can protect themselves for unpredictable events such as floods by taking small measures each and every day. Rickey is experienced in Community Development and Fair Lending with a specialization in transitioning ISB to Large Bank for CRA examination purposes. He has a proven history of forming powerful and strategic relationships in the community and leveraging resources to make the greatest positive impact possible. He is also experienced in product development, policy and procedure creation/enhancement, employee training, multiple CRA & Fair Lending analytical softwares and strategic planning. To learn more about Rickey, visit: https://www.linkedin.com/in/rickey-jimenez-89646b73/ To learn more about Houston Money Week visit: www.Houstonmoneyweek.org   http://www.cheatsheet.com/personal-finance/how-schools-can-improve-their-personal-finance-education.html/ Financial Advisor Magazine Articles: http://www.fa-mag.com/news/advisors-stay-the-course-amid-monday-s-market-drop-22864.html?section=3  http://www.fa-mag.com/news/on-it-s-80th-anniversaryadvisors-consider-social-security-s-impactfuture-22784.html?section=3 You can listen live by going to www.kpft.org and clicking on the HD3 tab. You can also listen to this episode and others by podcast at: http://directory.libsyn.com/shows/view/id/moneymatters or www.moneymatterspodcast.com #KPFTHOUSTON #HoustonMoneyWK #RickeyJimenez

Finance industry marketers need more than just a simple score to accurately predict or even understand their customers' financial behaviors. They need an actionable marketing solution that helps them sell smarter and win bigger without running afoul of consumer fair lending regulations. Segmentation can help. In the third episode of The Why Behind The Buy, host Monique Martin talks with finance industry segmentation experts Reagan Vohs and Catherine Spisszak about segmentation solutions for financial institutions, including Claritas P$YCLE Premier. Download more podcast episodes: https://soundcloud.com/claritas_finds_customers Read our blog post on this episode and get the transcript: https://claritas.com/resource-center Watch our webinar on Claritas P$YCLE Premier Financial Segmentation: https://www.youtube.com/watch?v=flsjMFAZIRY&t=9s Learn about Claritas and find your best customers: https://claritas.com Find us on Facebook: https://www.facebook.com/Claritas2.0/ Connect with us on LinkedIn: https://www.linkedin.com/company/claritas_mbs/ Follow us on Twitter: https://twitter.com/Claritas2_0

The Consumer Financial Protection Bureau's (CFPB) mission is to make markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products. Congress established the CFPB to protect consumers by carrying out federal consumer financial laws and the CFPB. In this interview, Gail Hillebrand, Associate Director for Consumer Education and Engagement at the CFPB, will explain what the agency is doing to protect consumers in many areas including: Mortgages and mortgage servicing, Payday loans, Student loans, both federal and private, Mandatory arbitration provisions in consumer contracts, Bank deposit regulations, Financial education and literacy efforts, Credit card act enforcement, Auto financing, Fair Lending practices, and Empowering lower income Americans.

The Consumer Financial Protection Bureau's (CFPB) mission is to make markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products. Congress established the CFPB to protect consumers by carrying out federal consumer financial laws and the CFPB. In this interview, Gail Hillebrand, Associate Director for Consumer Education and Engagement at the CFPB, will explain what the agency is doing to protect consumers in many areas including: Mortgages and mortgage servicing, Payday loans, Student loans, both federal and private, Mandatory arbitration provisions in consumer contracts, Bank deposit regulations, Financial education and literacy efforts, Credit card act enforcement, Auto financing, Fair Lending practices, and Empowering lower income Americans.

508 is a show about Worcester. This week’s panel is School Committee member Tracy Novick and Emily Jones and Maureen St. Cyr from Community Legal Aid. (For legal help, you can contact CLA at 508-752-3718, ot you can contact a private attorney.) [display_podcast] Audio: Download the mp3 or see more formats. Contact Info You can … Continue reading "508 #219: Fair Lending"

Today's special guests will be Mitch Kider of the law firm Weiner, Brodsky, Sidman & Kider who will be giving our listeners an update and status of... The QM rule & if it poses Fair Lending issues Other new regulations & approximate timelines CFPB examinations Fair Lending... the emphasis it is receiving and what to watch out for False Claims Act liability on Gov't type of loans Also, we will have Mike Fratantoni from the MBA talking about The major issues facing lenders today? What are the challenges for Risk Mgrs today? The upcoming Risk Mgmt & Quality Assurance Conference in Dallas September 9th - 11th.   Mortgage industry veteran, David Lykken, along with frequent guests, Alice Alvey and Joe Farr provide up-to-the-minute information on interest rates, loan programs and "hot" industry news related to the mortgage industry. E-mail me topic you would like discussed on the program to DLykken@MortgageBankingSolutions.com Today's special guests will be Mitch Kider of the law firm Weiner, Brodsky, Sidman & Kider who will be giving our listeners an update and status of... The QM rule & if it poses Fair Lending issues Other new regulations & approximate timelines CFPB examinations Fair Lending... the emphasis it is receiving and what to watch out for False Claims Act liability on Gov't type of loans Also, we will have Mike Fratantoni from the MBA talking about The major issues facing lenders today? What are the challenges for Risk Mgrs today? The upcoming Risk Mgmt & Quality Assurance Conference in Dallas September 9th - 11th.   Mortgage industry veteran, David Lykken, along with frequent guests, Alice Alvey and Joe Farr provide up-to-the-minute information on interest rates, loan programs and "hot" industry news related to the mortgage industry. E-mail me topic you would like discussed on the program to DLykken@MortgageBankingSolutions.com