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New Compliance Monitor tackles fair lending exams, recent court decisions
The new edition of NAFCU's Compliance Monitor – a member-only, digital compliance resource – features a review of the current focus on fair lending exams, including an outline of the factors the NCUA will use to determine whether a federal credit union demonstrates potential high fair lending risk. In addition, the Monitor breaks down two recent court cases that are noteworthy for credit unions.
On fair lending, NAFCU Senior Regulatory Compliance Counsel Loran Jackson provides a roundup of resources to address the NCUA’s renewed focus, including the agency’s Letter to Credit Unions, the Interagency Fair Lending Examination Procedures, and more.
“Credit unions can take their fair lending obligations seriously, and there are some steps that can help proactively address some of these risks,” writes Jackson. “Periodically reviewing fair lending policies and procedures to ensure clarity and updating as necessary adjust to recent guidance may be helpful.”
View the full outline of relevant fair lending guidance.
In addition, NAFCU’s Compliance Team breaks down two recent court cases, including:
- the Supreme Court’s decision regarding the definition of an "autodialer" under the Telephone Consumer Protection Act (TCPA); and
- the U.S. Court of Appeals for the Eleventh Circuit decision in a lawsuit related to Americans with Disabilities Act (ADA) website accessibility issues.
The article tackles how these two decisions impact credit unions and points to relevant Compliance Blog posts for additional information on both cases.
NAFCU's award-winning Compliance Team publishes several other resources in addition to the Compliance Monitor to keep credit unions informed of the latest regulatory developments.
The association has a member-only Compliance, Risk & BSA Network to provide compliance professionals a space to connect on key compliance issues and a Compliance Calendar that outlines important dates and deadlines for credit union regulatory compliance requirements.
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