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What You Don't Get from A Fair Lending Exam
The new Fair Lending examination is targeted. The examiners will identify high risk and high exposure areas. They won't look at absolutely everything the bank is doing. So what does it mean when the examiner doesn't find a fair lending problem? It means that the examiner didn't find a fair lending problem in the files and practices that were examined. It does not mean that the bank has a clean bill of health. Warn management not to jump to optimistic conclusions after the fair lending examination.
Copyright © 1999 Compliance Action. Originally appeared in Compliance Action, Vol. 4, No. 5 & 6, 5/99
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