Sample Fair Lending Risk Assessment / Fair Lending Creating A Complete Picture Affirmx : Completing a fair lending risk assessment is a challenging task as there are many things to consider in a financial institution that relate to the risk of discrimination.. From defining risk management to implementing an effective risk management system. Risks should be systematically identified and reviewed to ensure those things, activities, situations, processes, etc. Systems identify and manage fair lending risks under ecoa. Smaller financial institutions may have fewer resources for tackling compliance and risk management than larger fis, but they are just as determined to get things right. In that sense, it is a menu of resources to be considered and selected from, depending on the nature and scope of the examination being conducted.

Completing a fair lending risk assessment is a challenging task as there are many things to consider in a financial institution that relate to the risk of discrimination. Sign up for news + updates. Processing high high moderate 4. It is more important than ever for compliance officers to understand the entire lending process to effectively manage fair lending risk. The next section in your fair lending risk assessment should focus on the credit union's policies and approach to lending, with emphasis on credit decisioning, pricing, and applicant.