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.
Presenters: 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
