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Course description

Is fair lending an important issue? Here are snippets from the CFPB’s Acting Director David Uejio Fair Lending Report opening comments, “…my top priorities for this agency are to take bold and swift action to address issues of pervasive racial injustice and the long-term economic impacts of the COVID-19 pandemic on consumers…the economic impacts of COVID-19 are just starting to be understood, it is clear that the pandemic is exacerbating racial inequality in all markets, including rising housing insecurity among the most vulnerable consumers.” And he went on to say, “ the lingering impacts of over 400 years of chattel slavery and Jim Crow laws that sought to limit racial equality through institutionalized discrimination, deepens our nation’s longstanding racial inequities.” I would say there is an agenda there. Will this culture permeate through the prudential banking agencies? The pendulum is swinging back to ultra-conservative regulatory requirements and now is the time to prepare your bank.

HMDA data continues to incite allegations of discrimination, recent reports of lending on manufactured homes is doing the same, banks may not be reacting well to the gender-identity guidance and there are a lot of loans ready to exit forbearance that must have appropriate actions taken. 

Fair lending isn’t anyone’s job, it’s everyone’s obligation and many bankers, including lenders and compliance officers, take it for granted. We must be proactive and transparent so there is no sign of impropriety or that it is a trivial matter. This is considered staying ahead of the power curve.

Fair lending hasn’t had a single big event propelling it to the front burner, but it deserves your attention. The CFPB’s Acting Director David Uejio Fair Lending Report opening, comments include, “…my top priorities for this agency are to take bold and swift action to address issues of pervasive racial injustice and the long-term economic impacts of the COVID-19 pandemic on consumers…the economic impacts of COVID-19 are just starting to be understood, it is clear that the pandemic is exacerbating racial inequality in all markets, including rising housing insecurity among the most vulnerable consumers.” And he went on to say, “ the lingering impacts of over 400 years of chattel slavery and Jim Crow laws that sought to limit racial equality through institutionalized discrimination, deepens our nation’s longstanding racial inequities.”

  • The CFPB has offered guidance on gender neutrality, what was your bank’s reaction?
  • HMDA data shows signs of lending discrimination, what was your bank’s self-analysis?
  • Manufactured housing seems to have higher interest and denial rates, where does your bank stand?

Fair lending issues are beginning to grow and are hitting the press. There has been HMDA LAR data problems, podcasts leading to charges of redlining and banking policies resulting in redlining and reverse redlining of minority neighborhoods. There are many touchpoints between compliance and fair lending, and it’s more than consumer protections which are extremely important to the current administration.

We’ll talk about all these issues and more in this fast paced two-hour fair lending update. I hope you’ll be able to join me.


Instructor(s)

Andy Zavoina

Mr. Andy Zavoina, CRCM, is an Executive Vice President with the Glia Group, Inc., best known for its involvement with BankersOnline.com. He joined Glia and BOL in 2003. Mr. Zavoina has been in finance and banking for 39 years. Over 20 years were with a two-bank holding company that had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. He has done loan workouts, has been a consumer, commercial and real estate lender and managed those departments, as well as being his banks first Webmaster. He was responsible for compliance -management, -auditing, and -training for both banks. Mr. Zavoina is a recipient of the American Bankers Association’s Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He is a past Chairman of the ABA’s Compliance Executive Committee, the Editorial Advisory Board for the ABA Compliance Magazine and served as a member of the ABA’s Compliance School Board. He is a BankersOnline Guru. He also served on the Texas Bankers Association's Compliance Committee. He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers. He has written articles and lectured on compliance, the use of the internet and technology as a tool, as well as compliance in cyberspace to local, state and national associations across the U.S. and teaches basic compliance and compliance management. You can reach Andy on the Internet by using his e-mail address, andyz@bankersonline.com, or visiting http://www.bankersonline.com.

Course curriculum

  • 1

    Webinar

    • Access Webinar

  • 2

    Materials

    • Slides

    • Questions and Answers

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