Video Webinar: Fair Lending Training for the Board of Directors
There has been an increasing trend where examiners are strongly encouraging financial institutions to increase their compliance training efforts for the Board of Directors, especially in the area of Fair Lending. Fair lending training for the Board of Directors, however, can be a challenging task. On one hand, the Board is ultimately responsible for fair lending compliance and should be appropriately trained in this complex and high-risk area. On the other hand, comprehensive fair lending training can often take several hours to complete, which doesn’t work for Board members.
Directors need a training program that helps them to understand how to manage the Fair Lending program of the organization. This means that they need higher level training that identifies key points and avoids getting too detailed. Training should be designed in a way that an outside director without prior banking experience, can understand fair lending risks, be able to make informed decisions, and ultimately have effective oversight of the fair lending function of the organization.
As fair lending is one of the highest risks in most financial institutions, effective and efficient training for the Board is extremely important.
Our Fair Lending Training for Board of Directors is designed to provide a overview of fair lending risks from the perspective of what a Director needs to know in order to have appropriate oversight of this high-risk area. Plus, our training is designed to be delivered to the Board in just over 20 minutes.