What do Credit Unions Need to Know About the Current Regulatory Focus on Fair Lending?
Credit Unions play a critical role in providing accessible credit to millions of Americans. By partnering with fintech innovators like Happy Money, they can expand their reach and leverage cutting-edge technology to deliver more opportunity than ever before. Yet with increased attention from regulators, it’s vital for Credit Unions to ensure their lending practices are both innovative and compliant.
I had the pleasure of joining Mike Lawson at CUBroadcast, along with our partner, Happy Money’s VP of Risk and Analytics, Imon Chatterjee, to discuss the regulatory spotlight on Fair Lending. We covered key topics, including the importance of fairness monitoring and how Credit Unions can search for Less Discriminatory Alternatives to their lending practices.
If you’re a Credit Union Leader looking to stay ahead of compliance requirements while serving your members, don’t miss this episode!
At FairPlay, we’re committed to providing credit unions with the tools and expertise needed to thrive in this new era of fair lending. Curious about how our software can help your credit union stay compliant and expand access to credit? Let’s connect!
P.S. A special shoutout to Jason Altieri, Happy Money’s former general counsel, who believed in FairPlay when we were literally just two guys in a garage. Jason’s belief in our mission of extending fair and transparent credit helped us grow from a two-person operation to the category leader we are today.
We’ve come a long way—and the journey continues!
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Fair Lending Analysis
Identify and overcome tradeoffs between performance and disparity.
