Dates of Event & Pricing

$295 for Webinar and Playback*

*Playback has no expiration.

  • Wednesday, August 10, 2022

  • 12:00 – 1:00 pm (Eastern Time)

  • 11:00 – 12:00 pm (Central Time)

  • 10:00 – 11:00 am (Mountain Time)

  • 9:00 – 10:00 am (Pacific Time)

Curriculum

On October 22, 2021, the Justice Department announced the launch of an aggressive new initiative to combat the practice of redlining. The new Initiative should send a strong message to banks and lenders, warned department officials. “Today, we are committing ourselves to addressing modern-day redlining by making far more robust use of our fair lending authorities. We will spare no resource to ensure that federal fair lending laws are vigorously enforced and that financial institutions provide equal opportunity for every American to obtain credit,” said Attorney General Merrick B. Garland. The new Initiative represents the department’s most aggressive and coordinated effort to address redlining, which is prohibited by the Fair Housing Act and the Equal Credit Opportunity Act. 

Financial institutions can’t afford to neglect their potential redlining risk exposure. This can’t-miss session will provide lenders, banks, and credit unions the information and tools necessary to ensure compliance and mitigate fair lending risk. We’ll dive into recent enforcement cases and explore the many risks and hot spots to monitor for fair lending and redlining risk. The session concludes with a comprehensive review of the key components of fair lending compliance programs and essential requirements for an effective fair lending risk assessment. 

Comprehensive Training Objectives for You and ALL Your Staff

  • Recent Fair Lending Guidance 
  • DOJ Redlining Initiative and what to expect in 2022
  • Explanation of redlining and reverse redlining
  • Overview of recent examination and enforcement trends 
  • What kind of evidence are federal agencies gathering to detect redlining?
  • Understanding your institution’s REMA 
  • REMAs and its impact in redlining cases
  • 7 key areas that examiners consider when evaluating your redlining risk 
  • Steps to detect potential redlining and actions to mitigate fair lending risk  
  • Key requirements to properly train and develop staff on this important topic

Instructor(s)

Esq / Founder finreg PARTNERS

Dena Somers

Dena Somers is a highly regarded bank consultant and compliance attorney. She has provided regulatory compliance and risk management consulting services to financial institutions and companies in highly regulated industries nationwide for more than 20 years. Her areas of expertise include consumer and mortgage lending compliance, Fintech and specialty finance, regulatory compliance training, business strategy and best practice advisement, and corporate governance. Throughout her career, Ms. Somers has advised hundreds of banking and financial institutions— ranging from local community banks to $50 billion financial holding companies— to achieve operational efficiency while ensuring regulatory compliance. Previously, Ms. Somers served as General Counsel to a national mortgage servicing company, Fintech lender, national money service business, and has represented financial institutions in a broad array of complex litigation matters for more than 15 years. Additionally, Ms. Somers is a published author for Lexis Nexis in the areas of Bank Teller training, loan policies, and loan documentation training.

Credits

1.0 CPE Credits & 1.2 AAP Credits