Board Oversight: Fair Lending
Course Number: ABA
Course Code: ABA
Explores a bank board’s key responsibility for overseeing and supporting a bank?s ability to meet the needs of its entire community. This includes oversight of bank policies and procedures to ensure it does not illegally discriminate, directly or indirectly, against existing or potential customers under fair lending laws.
Duration: Approximately 5 minutes
Reviewed: April 2019 (no changes necessary)
What You’ll Learn
After successfully completing the course, you will be able to:
-Describe the fair lending laws and their purposes
-Define overt discrimination, disparate treatment, and disparate impact
-Explain the responsibilities assigned to the board of directors under fair lending laws
-Describe the consequences of not complying with fair lending laws
Audience: For members of a bank's board of directors.