On August 19, Liza Warner presented a webinar on Fair Lending Risks in Originations, Servicing and Small Business for the Chicagoland Compliance Association (CCA). The current administration and the CFPB are both focused on equity and inclusion which extends to lending activities. Banks have always been expected to provide lending related services in a fair and responsible manner and the expectations are receiving even more heightened attention in today’s environment. This webinar touched on the fair lending risks that a bank needs to be aware of and needs to monitor to meet its fair lending policy and mandate and to ensure it understands its performance and can explain it to regulators and other interested parties. Liza reviewed risks and potential solutions within loan origination and servicing activities including consideration of the consumer protections extended as a result of COVID-19. She also reviewed fair lending strategies related to small business lending.
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