Practical Handbook on Fair Lending for Bank Directors and Executive Officers
American Association of Bank DirectorsAndrea K. Mitchell, David Baris, Lori J. Sommerfield, Shara M. Chang
Andrea Mitchell authored the Practical Handbook on Fair Lending for Bank Directors and Executive Officers, published by the American Association of Bank Directors.
Although the concept of fair lending has existed since the late 1960s, in recent years the industry has witnessed a dramatic shift in the regulatory landscape for enforcement of the federal fair lending laws. Non-compliance with fair lending laws — as well as allegations that a bank’s lending practices are discriminatory — can damage a bank’s reputation, lead to regulatory and litigation risks, and be costly to defend. As a bank director, you need to be engaged in overseeing your bank’s fair lending compliance efforts. That does not mean that you need to learn all of the technical details of fair lending, but you should have a basic understanding of fair lending as well as an understanding of the role of the board of directors in overseeing your bank’s efforts to comply with the fair lending laws. That is the objective of this book.