ABA today released a new, free members-only resource - the ABA Toolbox on Fair Lending - to help member banks ensure continued compliance with fair lending laws and regulations.
“[A] number of cases brought recently by the Justice Department have made some banks anxious to know if their fair lending compliance programs are keeping pace with the latest legal interpretations,” ABA Chairman Kell Kelly says in an introduction to the toolbox. “The goal of this toolbox is to help ensure that your institution is in sync with examiner expectations so that you get the sort of compliance credit you deserve.”
The toolbox, which can be downloaded from aba.com, provides practical how-to’s, templates, examples and insights for bankers to consider as they review their compliance programs. Topics covered include the board’s role in fair lending compliance, fair lending risk assessments, comparative file reviews, second-look programs and managing fair lending exams.
Additional resources will be added over time, including a board presentation, tailored guidance for particular loan products and other specialized tools.
Access the toolbox.
denotes ABA bank members-only content.
Not an ABA member?
Learn about the benefits of membership and ways to join here.