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Description:
Congress directed the CFPB to adopt regulations governing the collection of small business lending data and Section 1071 of the Dodd-Frank Act amended the Equal Credit Opportunity Act (ECOA) to require financial institutions to comply, maintain, and submit certain data on applications for credit for women-owned, minority-owned, and LGBTQI+-owned businesses. This hour-long presentation will provide an update on where we stand from a litigation and compliance standpoint in this rulemaking.
People Who Should Attend:
Compliance Officers and staff, loan operations personnel, Fair Lending Officers and auditors, as applicable.
Presenter:
Elizabeth Holtrop
Compliance Advisor
Elizabeth serves as Compliance Advisor on the Compliance Hub team. Her banking experience includes trust department operations, consumer mortgage lending, and community bank compliance. Most recently she served on the compliance team for a holding company responsible for two community banks. She assisted with all aspects of the compliance management systems and served as alternate BSA/AML/OFAC officer for both banks, while keeping a primary focus on lending regulation. At the community bank level, Elizabeth created policies and procedures, prepared board reports, served on an internal fraud team, performed countless file reviews, implemented internal fair lending analysis processes, and coordinated compliance staff training in groups and for targeted performance concerns. Elizabeth worked with OCC, FDIC, and state examination teams.
Experienced as a consumer mortgage lender and underwriter, Elizabeth understands the difficulty of dealing with various factors such as TRID compliance, fair lending law, and secondary market rules while juggling excellent customer service and managing a book of business. Her focus has always been on demonstrating 100% compliance for auditors and examiners, while breaking down complex regulations into understandable concepts