Fair Lending Compliance: Navigating Pitfalls, Understanding Regulatory Findings, and Best Practices for Ongoing Monitoring

This joint presentation, led by Brad Rustin of Nelson Mullins and Drew Young of Elliott Davis, will delve into the critical aspects of fair lending compliance. We’ll explore common pitfalls that financial institutions face when it comes to fair lending laws and regulations, review key regulatory findings and enforcement actions, and provide actionable strategies to help your institution stay compliant and aware of evolving fair lending requirements. Whether you are involved in risk management, compliance, or lending operations, this session will equip you with the tools needed to proactively monitor and safeguard your institution's fair lending practices.

Learning Objectives:

1. Identify Common Pitfalls – Understand the frequent mistakes and missteps that can lead to fair lending violations and how to avoid them.
2. Analyze Regulatory Findings – Gain insight into recent fair lending regulatory findings and enforcement actions, learning from past mistakes and successes.
3. Understand Key Fair Lending Regulations – Develop a deeper understanding of the Fair Housing Act, Equal Credit Opportunity Act, and other relevant fair lending regulations.
4. Best Practices for Monitoring Compliance – Learn how to effectively monitor and assess fair lending practices within your organization, including audit techniques and data analysis tools.
5. Stay Ahead of Emerging Trends – Explore strategies for staying informed about changes in regulatory expectations and the shifting landscape of fair lending laws.

About your speakers:

Drew Young, CRCM, CBAP

As the regulatory compliance practice leader at Elliott Davis, Drew works exclusively with financial institutions to provide regulatory compliance services, including risk-based regulatory compliance review, Bank Secrecy Act review, fair lending analysis, consultation, audit and training. He has over fifteen years of experience and has worked with institutions across the United States ranging in asset size from $40 million to over $60 billion.

He also has extensive experience providing regulatory compliance and BSA/AML training via speaking engagements with the Virginia Association of Community Banks, Tennessee Bankers Association, Community Bankers Association of Georgia, North Carolina Bankers Association, and the Kentucky Bankers Association.

Dowse Bradwell "Brad" Rustin, IV

Brad Rustin chairs the Nelson Mullin’s Financial Services Regulatory Practice. He began his career as a litigator focusing on consumer financial services litigation and defense of regulatory claims against chartered and non-chartered financial institutions, finance entities, and money services business. Following in the wake of the fiscal crisis, he began working with financial institutions, state-licensed lenders, money transmitters, non-traditional lenders, check cashers, and mortgage brokers on issues of regulatory compliance. Brad is a Certified Anti-Money Laundering Specialist (CAMS) by ACAMS and a Certified Regulatory Compliance Manager (CRCM) by the American Bankers Association. He also serves as an expert witness of matters relating to financial regulations and compliance.

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CPE Information

Continuing Education: 1 hours of CPE credits (*To earn the full 1.0 credit, participants must attend a minimum of 50 minutes and respond to a minimum of 3 polls.)

Field of Study: Specialized Knowledge

Delivery Method: Group Internet Based

Program Level: Basic

Prerequisite: None

Advanced Preparation: None

Refund Policy: As this session is free of charge, no refunds will be issued

The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.