This is a quick take with Joe Goldberg - former head of NCUA's Fair Lending Program.NCUA examines federal credit unions with assets less than $10 billion; state supervisory authorities examine state-chartered credit unions with assets less than $10 billion; and the CFPB examines credit unions with assets over $10 billion.NCUA offers a number of fair lending resources for credit unions which are available on the Fair Lending Compliance Resources page. Materials include a fair lending guide, regulatory alerts, webinars, HMDA resources, exam procedures, and other related information.Fair lending laws and regulations include: the Equal Credit Opportunity Act (ECOA), and its implementing regulation, Regulation B; the Home Mortgage Disclosure Act (HMDA), and its implementing regulation, Regulation C; and the Fair Housing Act (FH Act). In addition, the National Credit Union Administration (NCUA) regulations contain nondiscrimination requirements for real estate-related loans. See 12 CFR § 701.31.At the conclusion of a fair lending examination, a credit union will receive a written examination report including an Overview, Supplementary Facts, Findings, Loan Exceptions and, if applicable, a Document of Resolution.At the conclusion of a supervision contact, a credit union will receive written results including an Overview, Supplementary Facts, and Findings. If the off-site supervision contact identifies deficiencies, OCFP will provide recommendations for corrective action.
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This is a quick take with Joe Goldberg - former head of NCUA's Fair Lending Program.
NCUA examines federal credit unions with assets less than $10 billion; state supervisory authorities examine state-chartered credit unions with assets less than $10 billion; and the CFPB examines credit unions with assets over $10 billion.
NCUA offers a number of fair lending resources for credit unions which are available on the Fair Lending Compliance Resources page. Materials include a fair lending guide, regulatory alerts, webinars, HMDA resources, exam procedures, and other related information.
Fair lending laws and regulations include: the Equal Credit Opportunity Act (ECOA), and its implementing regulation, Regulation B; the Home Mortgage Disclosure Act (HMDA), and its implementing regulation, Regulation C; and the Fair Housing Act (FH Act). In addition, the National Credit Union Administration (NCUA) regulations contain nondiscrimination requirements for real estate-related loans. See 12 CFR § 701.31.
At the conclusion of a fair lending examination, a credit union will receive a written examination report including an Overview, Supplementary Facts, Findings, Loan Exceptions and, if applicable, a Document of Resolution.
At the conclusion of a supervision contact, a credit union will receive written results including an Overview, Supplementary Facts, and Findings. If the off-site supervision contact identifies deficiencies, OCFP will provide recommendations for corrective action.
