Lending Track

Regulation B and the Fair Credit Reporting Act requirements for adverse action notification can be very confusing.  This session will cover the proper, timely handling of denial notices and address problem areas – and how to avoid them!  Examiners have long identified weaknesses in institutions’ loan applications that never yield an originated loan. Knowing how to properly handle loan applications that are denied, incomplete or eligible for a counteroffer is essential knowledge!

Participants will receive a tool to aid in the second review of adverse action notices for both Reg B and Fair Credit Reporting Act compliance standards, plus a cheat sheet to ensure the proper statement of reasons are selected to support the reason for denial under different scenarios. Join us for this important session to learn how to comply with denied, incomplete, and withdrawn loan application requirements for both consumer and business applicants.

HIGHLIGHTS
•    Accurately notify applicants when denying a loan application
•    How to appropriately document withdrawn applications
•    Appropriately prepare counteroffers
•    Identify common errors in completing adverse action notices
•    Second reviews of adverse action notices for fair lending purposes
•    Timing requirements for action taken under Regulation B
•    Identify when the FACT Act requirements are required for denial notices 
•    Recognize potential fair lending discrimination practices
•    Understand notification requirements for business applications

TOOLKIT
•    Application trigger chart detailed by regulation
•    Chart explaining each statement of reason on the notice
•    Second review checklist of adverse action/withdrawn files including notice completion