Is your financial institution in compliance?
NCRC will provide a two-course training for employees at community development financial institutions (CDFIs) and other financial institutions February 9-10, 2022.
The first course, Fair Lending: A Review of Discriminatory Practices Halting Advancement for Small Businesses in America, will focus on fair lending laws. Disparate pre-qualification standards, consumer engagement and overall company policies play a large role in small business growth. It’s imperative to understand and address these disparities to further economic growth throughout communities.
Over the last four years, NCRC conducted match-paired lending tests throughout the United States. This testing, focused on pre-qualification lending standards for small business owners, evaluated lending practices and several lending institutions’ levels of compliance. The results indicated that Black and women-owned businesses experienced different treatment when they sought small business loans from lenders.
Some of the differences in treatment could be attributed to employee implicit bias. In the second course, Addressing Intrinsic Bias in Lending Practices, we will equip participants with resources that allow them to understand the intersectionality of intrinsic bias and fair lending laws.
In order for practitioners to be more successful in meeting consumers’ needs, they need a contextualized understanding of cultural sensitivity and how it relates to their work.
We will review studies that reveal fair lending issues arising from staff intrinsic biases. Participants will learn how to adapt their financial services to be more inclusive while complying with financial regulations and adhering to fair lending/civil rights laws.
For more information, and to register, visit: https://training.ncrc.org/#/curricula/653a7bd3-28be-460b-b2d7-43c420ad56ab
If you have questions, contact NCRC’s Director of Fair Lending Anneliese Lederer at firstname.lastname@example.org.