At M & M Consulting’s most recent compliance school, our President/CEO spoke at length about the regulatory environment for Fair Lending and specifically redlining risk. The announcement from Department of Justice is further evidence of stepped up enforcement. Financial Institutions need to address redlining risks, so monitoring efforts and audit processes should be adjusted to ensure appropriate data analysis to identify these red flags well in advance of any examination.
Unfair, Deceptive, Abusive Acts and Practices (UDAAP) – You Need to Do the Math Pt. II
Imagine a consumer not being able to recalculate a fee on their monthly deposit account statement based on the...