BankerCollege

On October 22, 2021, the Justice Department announced the launch of an aggressive new initiative to combat the practice of redlining. The new Initiative should send a strong message to banks and lenders, warned department officials. “Today, we are committing ourselves to addressing modern-day redlining by making far more robust use of our fair lending authorities. We will spare no resource to ensure that federal fair lending laws are vigorously enforced and that financial institutions provide equal opportunity for every American to obtain credit,” said Attorney General Merrick B. Garland. The new Initiative represents the department’s most aggressive and coordinated effort to address redlining, which is prohibited by the Fair Housing Act and the Equal Credit Opportunity Act. 

Financial institutions can’t afford to neglect their potential redlining risk exposure. This can’t-miss session will provide lenders, banks, and credit unions the information and tools necessary to ensure compliance and mitigate fair lending risk. We’ll dive into recent enforcement cases and explore the many risks and hot spots to monitor for fair lending and redlining risk. The session concludes with a comprehensive review of the key components of fair lending compliance programs and essential requirements for an effective fair lending risk assessment. 

Comprehensive Training Objectives for You and ALL Your Staff

• Recent Fair Lending Guidance 
• DOJ Redlining Initiative and what to expect in 2022
• Explanation of redlining and reverse redlining
• Overview of recent examination and enforcement trends 
• What kind of evidence are federal agencies gathering to detect redlining?
• Understanding your institution’s REMA 
• REMAs and its impact in redlining cases
• 7 key areas that examiners consider when evaluating your redlining risk 
• Steps to detect potential redlining and actions to mitigate fair lending risk  
• Key requirements to properly train and develop staff on this important topic