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ICB Credit: 2.5 CRCM
In the unlikely event you are fully satisfied with your internal Fair Lending compliance; don’t think you are out of the woods. Most banks rely on third party vendors in all aspects of their lending operations. It has always been a challenge to effectively manage our vendors in order to maintain the better end of the bargain. But general performance, privacy and security are no longer your only vendor concerns. Under the broad scope of the current laws, you can be held liable for fair lending violations committed by your vendors! What does your contract say about this? How are you monitoring and measuring the risk? This is a compliance risk you cannot afford to ignore.
This session will discuss:
- High Risk Third Party Vendors
- Addressing Compliance in the Contract
- Incorporating Vendors Into Your Fair Lending Compliance Program
- Key Regulatory Guidance
- Vendor Management Best Practices
This informative session is designed for executives, senior management staff, compliance, vendor management, real estate lending, automotive lending, collections, internal audit, audit committee and anyone involved in real estate collections and loan servicing.
Fair Lending Risks in Third Party Relationships: From Indirect Lending to Mortgage Services and Beyond
Questions and Answers
OCC Fair Lending Manual
FDIC Fair Lending Manual