In this podcast episode, Dean and Len delve into pivotal questions concerning regulatory compliance in the banking sector. Len highlights the two primary questions every compliance and risk officer should ponder: whether their lending performance meets the expectations of examiners and if the performance is statistically significant.
The conversation comes against the backdrop of changes to the Community Reinvestment Act (CRA) Rule and the Department of Justice's recent focus on the "Anti-Redlining Initiative." Len breaks down the proposed CRA rule, emphasizing performance benchmarks and their significance for banks to ascertain their ratings even before official examinations.
Transitioning to Fair Lending and redlining, the duo discusses the intricacies of "statistical significance" and how it gauges a bank's performance, especially when lending in majority-minority tracts. Despite the challenges, Len elucidates that unfavorable results don't automatically doom a bank. Factors like defining the market accurately and valid explanations for performance trends play a role.
Both Dean and Len underscore the episode's timeliness, given the prevailing regulatory atmosphere. They hope listeners find the complex topic both engaging and enlightening.
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Section 1071
Fair Lending Examiner Exceptions
Community Development under CRA
Fair Lending Appraisal Bias
Impending Changes to CRA & imminent publication of Dodd-Frank Section 1071 Rule
BSA Basics
REMA’s: Their Use and Abuse by Regulators in the war against redlining
2023 Regulatory Hot Topics
Pending CRA Proposed Rule
While Fair Lending remains a hot topic, do not forget about the technical provisions of ECOA and FHA.
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Maxine Waters CRA Surprise: HR 8833
Compliance Management Systems in 2022
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Fair Lending remains are of interest for regulators
The new 2022 Census Tracts and their Impact on Banks.
UDAAP and CFPB Application of Unfairness`
Flood Violations Continue to Surge
Urgent 🔥🔥The 2022 CRA NPR description🔥🔥
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