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Upcoming League Events

 

Webinar: Dealing with Adverse Action: What To Do & When to
Do It

 

Wednesday, October 23, 2013

 

Speaker:  Ann Brode, Brode Consulting, Inc.

 

About the Program

Proper adverse action notification is a compliance requirement that has to be done correctly. Accurate completion of adverse action notices is important for several reasons:

  1. Their accuracy and timeliness are reviewed during compliance exams
  2. Adverse action notices are the cornerstone of fair lending examinations
  3. Inconsistent, inaccurate notices could result in the credit union being required to go back six months, review past notices, and resend accurate denial notices. (Imagine the reaction of a past, unsuccessful borrower who receives a reminder denial notice!)


This webinar will cover the important issues of proper, timely handling of denial notices in accordance with Regulation B. In addition, it will address how to include denials in the sample for your internal comparative file review for fair lending compliance.

 

HIGHLIGHTS

  • Timing requirements of Regulation B for denials
  • Inquiry versus application (when an inquiry becomes an application)
  • Special considerations for commercial denials
  • FACT Act requirements for denial notices
  • Common errors in completing adverse action notices
  • Requirements for incomplete and withdrawn applications
  • How to appropriately document withdrawn applications
  • Handling counteroffers
  • Second reviews of adverse action notices for fair lending purposes
  • Comparative file review for fair lending on denials


Related Files
Printable Brochure (Adobe PDF File)

Related Links
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