Many US Federal Agencies are currently in deregulation mode and are reducing oversight to financial institutions. However, there are still several topics regulators are taking seriously. When it comes to fair lending, both federal and state regulators closely monitor lending organizations to ensure they’re serving the needs of all their clients and prevent discriminatory behavior that can lead to disadvantages to credit for protected classes.

ProSight has compiled a list of regulatory topics regulators are still looking at that financial services organizations should be aware of.

• Performing routine fair lending risk assessments

• Aligning policies and procedures with risk assessments

• Aligning pricing and underwriting criteria

• Having equal marketing and advertising exposure

• Providing fair lending training