2021 Lending Compliance Triage Conference
AGENDA
REMOTE FEED ACCESS TIMES
 10:00am - 6:00pm Eastern Time
   9:00am - 5:00pm Central Time
     8:00am - 4:00pm Mountain Time
   7:00am - 3:00pm Pacific Time

Conference begins each day at the specified time which is dependent on which time-zone you reside in.

   
Day 1
CENTRAL TIME
SESSION
9:00 - 9:10 Welcome and Introductions
9:10 - 9:50Intersection of Fair lending, Fair Housing, and Diversity, Equity and Inclusion
9:50 - 10:15Overview of new Regulation B Data Collection and Reporting of Small Business Loan Rules
10:15 - 10:45 Incorporating Gender Identity and Sexual Orientation into ECOA Policies and Procedures
10:45 - 11:00 BREAK
11:00 - 12:15 What's Up With TILA
12:15 - 1:00 LUNCH
1:00 - 1:55 HMDA Review and Update
1:55 - 2:30 Fair Lending During the New Administration
2:30 - 2:45 BREAK
2:45 - 3:45 How the FDCPA Impacts Your Institution
3:45 - 4:45 Flood Insurance Guidance Slowly Moves Towards Completion
4:45 Q and A
Adjourn - See you tomorrow!
  
Day 2
CENTRAL TIME
SESSION
9:00 - 10:00UDAP Moving In and Out of Focus
10:00 - 10:30 Payday Lending Update
10:30 - 10:45BREAK
10:45 - 12:00 Are Uniform CRA Rules Possible, What Might They Look Like and What Do We Do in the Interim
12:00 - 12:45LUNCH
12:45 - 1:55 What's Your Plan for the Foreclosure Surge
1:55 - 2:30 Lending to Insiders and Regulation O
2:30 - 2:45BREAK
2:45 - 3:15 Adjusting Your Compliance Management System for the New Administration
3:15 - 4:30 Common Violations and Other Recent Issues
4:30 Q and A
Adjourn - Thank you for attending!

Introduction - Conference Chairman, Jack Holzknecht, introduces the Triage Conference panel of speakers and explains the state of the Lending Compliance industry as of November 2021.

Intersection of Fair lending, Fair Housing, and Diversity, Equity and Inclusion - Successful implementation of fair lending and fair housing requirements, compliance with HMDA and CRA regulations, development of effective, compliant lending policies and practices and marketing programs, and meeting expectations for diversity, equity and inclusion requires a macro view of these topics as part of a continuum rather than items to be dealt with separately.
  • This session considers recent discussions, actions and statements by various regulators and government officials, including agenda items for proposed and final rules, which serve as bellwethers for financial institutions to determine the path to take. In the past few years, some concepts such as disparate impact have been set aside and are now being reactivated. At the same time, communities are struggling to recover from the economic impact of the pandemic, which had a particular effect on those with a high minority population, while also dealing with renewed calls for economic and racial justice.
  • We will review each of these important rules and concepts and discuss how to connect what are often developed as separate programs so that they work in conjunction with each other, working to achieve the common goal of equal treatment for all, leading to success for the financial institution, its customers, communities and staff members.
Overview of new Regulation B Data Collection and Reporting of Small Business Loan Rules - On August 31, 2021, the CFPB published a 918-page notice of proposed rulemaking (NPRM) to implement Section 1071 of the Dodd-Frank Act. That section amends the Equal Credit Opportunity Act (ECOA) to require financial institutions to collect and report certain data in connection with credit applications made by women- or minority-owned businesses and small businesses.
  • Comments on the NPRM will be due no later than 90 days after the date it is published in the Federal Register, which will be in December.
  • Compliance with a final rule will be mandatory 18 months after publication, which is likely to occur on January 1, 2024.
Incorporating Gender Identity and Sexual Orientation into ECOA Policies and Procedures - On June 15, 2020, in Bostock v. Clayton County, Georgia, the Supreme Court ruled that the prohibition against sex discrimination in Title VII of the Civil Rights Act of 1964 (Title VII) encompasses sexual orientation discrimination and gender identity discrimination. On March 9, 2021, in response to the Bostock case, the CFPB published an interpretative rule entitled Equal Credit Opportunity (Regulation B); Discrimination on the Bases of Sexual Orientation and Gender Identity that clarifies that, with respect to any aspect of a credit transaction, the prohibition against sex discrimination in the ECOA and Regulation B encompasses sexual orientation discrimination and gender identity discrimination, including discrimination based on actual or perceived nonconformity with sex-based or gender-based stereotypes and discrimination based on an applicant's associations.
  • This session reviews both of these actions and provides guidance on updating existing policies and procedures. Examination procedures will be reviewed if published by the date of the program. In the absence of exam procedures, panel members will consider options for monitoring compliance with the interpretative rule.
What's Up With TILA - During the last twelve months, as it has for its entire history, the Truth in Lending Act and Regulation Z demands attention. We cover revisions to the ATR/QM rules, the HPML escrow rules, and the new TRID FAQs

HMDA Review and Update - No one in the industry provides a better update on HMDA and Regulation C than Kathleen Blanchard. Kathleen and her fellow panel members discuss the revised HMDA thresholds and recent hot spots.

Fair Lending During the New Administration - The Biden administration has made it very clear that increased emphasis will be placed on Fair Lending and Equal Housing. This presentation reviews and considers the actions taken by the new administration since its inception.

How the FDCPA Impacts Your Institution - In late 2020 the Consumer Financial Protection Bureau (CFPB) published final rules, as Regulation F, to implement the requirements of the Fair Debt Collection Practices Act. The final rules are effective November 30, 2021, but the CFPB has proposed to extend the effective date to January 29, 2022. Recently debt collectors were stunned when the 11th circuit declared in the Hunstein case that the FDCPA does not permit debt collectors to share debtor info with their traditional service providers (who crank out correspondence, etc.).

Flood Insurance Guidance Slowly Moves Towards Completion - Since 2017 Congress has been playing with proposed changes to the law and with the continued funding for the National Flood Insurance Program. This session reviews the status of the National Flood Insurance Program, the Interagency Questions and Answers proposed on June 26, 2020, and the 24 additional questions, regarding private flood insurance, proposed on March 11, 2021.

UDAAP Moving In and Out of Focus - Federal law has prohibited unfair and deceptive acts or practices in commerce for over 100 years. In 2010 the Dodd-Frank Act added a prohibition against abusive acts or practices, with little clarification or guidance. On January 21, 2020 the Consumer Financial Protection Bureau (CFPB) approved a policy statement that provides greater certainty about the meaning of abusiveness. The CFPB rescinded the 2020 guidance on March 11, 2021. The session also considers recent enforcement actions and a suggestion discrimination cases be pursued under UDAP/UDAAP.

Payday Lending Update - Title X of the Dodd-Frank Act created the Payday, Vehicle Title, and Certain High-Cost Installments Loans Rule, which is scheduled to be implemented as Regulation OO. The law was scheduled, after several delays, to be effective on August 19, 2019. Certain provisions were delayed until November 19, 2020. The whole mess has been delayed by a Texas case - Community Financial Services Association of America, LTD. and Consumer Service Alliance of Texas v. Consumer Financial Protection Bureau. As of May 2021 the United States District Court for the Western District of Texas has not lifted the stay to permit full implementation of the law. Once effective, Regulation OO potentially has a major impact on many financial intuitions. However with judicious use of regulatory exceptions the compliance burden can be minimized. There has also been discussion about the Biden administration pulling and revamping the rule. The session includes a very quick review of the status, exceptions, and the workaround.

Are Uniform CRA Rules Possible, What Might They Look Like and What Do We Do in the Interim - The Community Reinvestment Act (CRA) and its implementing regulations have not been significantly updated since the mid-1990s.
  • On May 20, 2020, the Office of the Comptroller of the Currency (OCC) published a final rule revising its CRA regulation. The final OCC rule was effective October 1, 2020.
  • On September 21, 2020, the Federal Reserve Board published an Advanced Notice of Proposed Rulemaking, but has yet to publish an actual proposed regulation.
  • On May 18, 2021, the Office of the Comptroller of the Currency (OCC) published OCC Bulletin 2021-2, which states that the agency has determined that it will reconsider the final CRA Rule published on June 5, 2020. This is a step in direction of obtaining uniformity. Certain provision of the final rule are halted, others continue.
  • When will the Federal Reserve Board and the Federal Deposit Insurance Corporation publish proposed regulations? How long will it take for the three agencies to produce uniform CRA regulations?
What's Your Plan for the Foreclosure Surge - Nationwide, during September and October 2021, as many as 800,000 borrowers will exit forbearance programs. That phenomena is referred to as the foreclosure surge. On April 5, 201 the CFPB proposed changes to Regulation X to assist borrowers affected by the COVID-19 emergency. The action is designed to help ensure that borrowers impacted by the COVID-19 pandemic have an opportunity to be evaluated for loss mitigation before the initiation of foreclosure. The CFPB also proposed certain amendments to the early intervention and reasonable diligence obligations that Regulation X imposes on mortgage servicers.

Lending to Insiders and Regulation O - We review the Regulation O PPP exception extension and the FAQs released in late March.

Adjusting Your Compliance Management System for the New Administration - The volume of change over the last year or so, resulting from the pandemic and policy initiatives from the Biden administration has been substantial Has your Compliance Management Systems been keep up to date? Tips for managing the entire process and staying up to date are provided.

Common Violations and Other Recent Issues - BOL tracks and this session reviews common violations of many of the topics listed above. We fully expect changes to continue to unfold up until the date of the program.

Adjourn - Thank you for attending!

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