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Expanding fair lending for fair banking

Answered by: 

Question: 
Should we handle fair banking like fair lending?
Answer: 

Very much so. The bank is already accustomed to preventing and monitoring for discrimination on the loan side. How much of this can be retooled to other products and services? Can you batch geocode these accounts and use proxies and other demographics to ensure acceptance and distribution of these products and services? There may be some cost efficiencies here and even reasons to spend on better technology now that it is a bank-wide use and justification.

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Learn more about Andy Zavoina’s Introduction to Fair Banking – It’s Real webinar.

First published on 05/08/2022

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