Fair Lending 2021: Preparing for Intensified CFPB Enforcement and Supervision

The Consumer Financial Protection Bureau is promising “bold and swift action on racial equity,” claiming that the “practices and policies of the financial services industry have both caused and exacerbated racial inequality.” This means intensified focus on fair lending in examinations, and a coming wave of enforcement actions “to identify and root out unlawful conduct that disproportionately impacts communities of color and other vulnerable populations.” In this webinar, Manatt fair lending professionals will be joined by leading financial economics consultant Arthur Baines of Charles River Associates for a discussion of what CFPB enforcement will look like in the coming months and how your company can mitigate the risk of these investigations before they begin.

Topics will include:

  • An overview of the legal theories the CFPB will employ in fair lending examinations, investigations and enforcement actions, including UDAAP
  • The Bureau’s renewed focus on traditional fair lending risk associated with judgmental underwriting and pricing of consumer lending products
  • The Bureau’s likely focus on automated underwriting models, including ones utilizing artificial intelligence and machine learning
  • Relatively new areas of fair lending focus such as fraud models, marketing and advertising of credit, small business finance, depository products and associated fees, and investor selection of loans and participation interests
  • The status of Dodd-Frank Section 1071 and HMDA rulemaking, and how it will impact enforcement activity
  • How fair lending compliance reviews can mitigate enforcement and other risks

This program is open to Manatt clients and prospective clients. 

Scott M. Pearson, Partner, Manatt Financial Services
Arthur P. Baines, Vice President, Co-Practice Leader of Financial Economics, Charles River Associates
Joseph Reilly, Counsel, Manatt Financial Services
Kay Fitz-Patrick, Associate, Manatt Financial Services
John Kimble, Associate, Manatt Financial Services

Date and Time
Tuesday, July 13, 2021

This program has been approved for 1.0 NY CLE Professional Practice (transitional and non-transitional) and for 1.0 CA MCLE General credit.

If you would like to receive an audio transcript of this webinar due to accessibility issues, please email us at webinars@manatt.com.

This program does not constitute legal advice, nor does it establish an attorney-client relationship. Views expressed by presenters are strictly their own and should not be construed to be the views of Manatt or attributed to Manatt.



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