“Monitoring is not an option”- a quote from a speaker at the recent American Bankers’ Association (ABA) fair lending conference in reference to fair lending monitoring. In today’s fair lending compliance environment, compliance officers are besieged with new regulations as well as new requirements for old regulations. How do you survive? Multiple strategies are probably […]
Community State Bank – Redlining Background Community State Bank is a $200 million institution in St. Charles, Mich., (near Saginaw and Flint) with eight branches. Community consented to redlining allegations from the Department of Justice. In the Complaint, DOJ alleged that Community had policies/practices to deny/discourage the residents of majority-minority neighborhoods from obtaining home loans. […]
Ben Bernanke Weighs in on Housing Discrimination Yesterday Federal Reserve Board Chairman Ben Bernanke gave a speech at the Operation HOPE Global Financial Dignity Summit in Atlanta. Bernanke’s remarks were among the most forceful comments about housing discrimination and fair lending that I can remember a Fed chairman making in my more than 20 years […]