Stat Of The Week – Going Forward, Fair Lending Compliance Will Be…
We polled attendees from our recent webinar on changes to fair lending compliance in light of the new administration (It was a hot webinar, catch the replay, if you missed it).
We asked attendees about their fair lending compliance programs during a time of change by asking, “Going forward will compliance be…?”
- More of a focus
- Less of a focus
- Same level of focus as it is today
For this informal poll, 65% said that in this climate of deregulation they will place the same level of focus on fair lending compliance going forward as they have today. The timely and insightful webinar on fair lending in the “2 out, 1 in” era is not to be missed if you are at all concerned about what’s next in fair lending for direct and indirect lenders.
To give you a little hint of what is in store for those who watch our latest webinar on fair lending, here are three True/False questions to ponder:
- If the CFPB’s budget reduces its activity, there are other agencies that could take up federal enforcement slack? True or False
- If your business practices appear to negatively impact a group this is called disparate impact. True or False
- You should be more concerned about future changes to fair lending regulations than the current laws on the books. True or False
Remember that a robust ethics and compliance program is always good business. To learn more about how to remain cool, calm and compliant in the future, here is another one to watch: Ask Professor Joe.
