Blog

The Role of Fair Lending Risk Assessments in Banking Compliance

Financial institutions are under constant and increasing scrutiny from regulators to manage fair lending risk and ensure compliance with fair lending laws. In this context, conducting fair lending risk assessments is paramount for risk managers who are aiming to not only meet legal requirements, but also promote positive customer outcomes and avoid appearances of practices […]

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The Hidden Dangers of Fair Lending Redlining: How It Can Harm Your Bank and Your Customers

You know the importance of ensuring compliance with fair lending regulations. But have you considered the dangers of redlining specifically and completely? Redlining Defined Redlining is the practice of denying or limiting financial services to certain neighborhoods or areas, often based on factors such as race, ethnicity, or income level. While it is illegal, redlining […]

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Beginning of the Year Checkup: What to Expect in 2023

As we move out of the holiday season and prepare for the new year, we wanted to take a moment and remind you of (4) HIGHLY critical issues at our doorsteps affecting lending compliance. We provide a brief summary of each of these with associated Action Items. Evaluation of the Impact of 2020 Census Changes […]

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Implementing CECL: 6 Key Considerations for Risk and Compliance Teams

You are no doubt aware of the significant changes with the implementation of the Current Expected Credit Loss (CECL) accounting standard. CECL represents a major shift in the way that financial institutions have historically estimated and set aside funds for credit losses on loans and other financial instruments. The evolving regulatory scrutiny associated with these […]

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Uncharted Waters: 4 Challenges Facing Small Business Lenders Under the Proposed CFPB Rule

Overview Earlier this month, there was a major development that could prove to be very significant in regard to fair lending. On September 1st, the CFPB released its proposed rule regarding small business lending data collection. The rule, mandated under the Dodd-Frank Act, and, if finalized and implemented, will require lenders to collect and report […]

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Fintech 2.0 and Beyond: ABA Insights Into Innovative Technology in Banking

In early May 2021, the American Bankers Association held their ABA Innovation Expo virtual conference. Two of the sessions presented by Robert Morgan (SVP, Office of Innovation) stood out in highlighting how banks are implementing innovative technology as well as in revealing surprising insights into how fintechs and banks are evolving with digital lending. The […]

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May 2021 Economic Outlook for Banks

The U.S. economy grew at an annual rate of 6.4% in the first quarter.  Growth was robust, but below expectations.  While recovery began in the third quarter, growth has been inconsistent with a relatively weak growth in the fourth quarter.  As of the first quarter, real GDP had not yet reached the pre-pandemic level set […]

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Redlining Risk & Data Analysis for Fair Lending in a Nutshell

With respect to potential fair lending issues, redlining has remained a significant focus during regulatory examinations for a number of years. There are a number of critical pressure points that should accompany an institution’s self-evaluation of redlining risk. These points are broad and range from marketing efforts, products, branch locations, delineation of assessment and market […]

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John F. DeLancey Joins Premier Insights and Radiant Lending Technologies

Radiant Lending Technologies and parent company Premier Insights are pleased to announce the addition of John DeLancey as Chief Technology Officer and Vice President of Engineering. DeLancey formally joined the companies in January 2021, although he had been working with them for many years in his role as owner of White Raven Technology LLC. His […]

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There Is No Shortcut to Effective Fair Lending Policy

In previous posts (see The Fair Lending Risk of Good Intentions) we have discussed fair lending risks associated with certain well-intended practices.  In an effort to avoid fair lending risks, institutions may find it tempting to have practices that either favor protected classes or policies that eliminate any variation in pricing or decisioning in an […]

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