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Are LPOs the answer?

Answered by: 

Question: 
Will Loan Production Offices help in fair lending if we decide to close branches?
Answer: 

We may see more LPOs being established to fill gaps based on branch contractions. As it relates to fair lending, regulators have indicated that LPO locations may be relevant to redlining analyses in some circumstances. Unfortunately we have little guidance in this area and even less with respect to LPO influences on fair lending analysis or indirect product lines. A banks analysis of the area it serves and resulting loans is key.

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Fair Lending Should be on Your Radar Now

First published on 09/06/2020

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