The Dodd-Frank Wall Street Reform and Protection Act: Implications for fair lending compliance

November 2010
  • Print-friendly version
Dodd-Frank: Implications for fair lending compliance

At a glance

November 2010 - Institutions should consider assessing their existing fair lending compliance (and general consumer compliance) risk management programs against leading standards from across the federal bank regulatory agencies, identify areas of enhancement and work to ensure that enhancements are in place in a timely manner.

Under Dodd-Frank, we expect regulatory scrutiny of fair lending to be raised to a whole new level. Even prior to Dodd-Frank, a heightended political and regulatory focus emerged on fair lending. How should banks respond? Institutions should consider assessing their existing fair lending compliance (and general consumer compliance) risk management programs against leading standards from across the federal bank regulatory agencies, identify areas of enhancement and work to ensure that enhancements are in place in a timely manner.