Live Webinar

60-minute live streaming program
  • December 16
  • 1:00 - 2:00 pm EST

Important CFPB Developments for Indirect Auto Loan Lenders

December 16

Learn how CFPB developments affect auto loan lenders and how to avoid legal pitfalls.

With the recent change of administration, regulators have shifted priorities and noted an increased focus on enforcing fair lending laws. Many banks and credit unions partner with dealers to finance auto loans and do not have insight into fair lending violations that may occur during the application process. The banks and credit unions may also have immature compliance management systems that do not monitor and identify fair lending risks.

This presentation will help lenders who are responsible for compliance with fair lending laws and regulations understand the problems currently facing the indirect auto market and the regulatory enforcement risk present. In addition, the material will present mitigation strategies to ensure appropriate compliance and monitoring systems are in place to prevent fair lending violations. Failing to understand fair lending and its relevance to your organization is a common misstep that could bring about increased regulatory scrutiny or enforcement action.

Learning Objectives

  • You will be able to describe the regulatory environment around fair lending and the indirect auto lending market.
  • You will be able to discuss fair lending mitigation strategies.
  • You will be able to explain fair lending risks in the indirect auto lending market.
  • You will be able to identify disparate treatment, steering, and other fair lending risks in your organization.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Indirect Auto Lending
  • Definition
  • Difference Between Direct and Indirect Auto Lending
  • Types of Indirect Auto Lending Organizations and Their Partners
Fair Lending Overview
  • Equal Credit Opportunity Act (ECOA) and Regulation B
  • Overt Evidence of Discrimination, Disparate Treatment, and Disparate Impact
Fair Lending Risks in Indirect Auto Lending
  • Marketing and Advertising
  • Application Acceptance and Referral
  • Underwriting and Pricing (e.g., Dealer Mark-Ups)
Current Regulatory Environment and Past Enforcement
  • Crackdown on Fair Lending by the DOJ, CFPB, and Other Agencies
  • Example Violations and Enforcement Actions
Mitigating Strategies
  • Methods to Establish Strong Fair Lending Policies, Procedures, Processes, and Controls
  • Fair Lending Training and Monitoring Program
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.0
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.0
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • CT CLE 1.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
     
  • HI CLE 1.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
     
  • IL CLE 1.0
     
  • This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • NH MCLE 1.0
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
     
  • NJ CLE 1.2
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.2 hours of total CLE credit.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • VT CLE 1.0
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hours of CLE credit.
     
  • WI CLE 1.0
     
  • This program has been approved by the Board of Bar Examiners for 1.0 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.2
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
     
  • CPE 1.2 including Specialized Knowledge 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.2 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for presidents, vice presidents, branch managers, attorneys, loan officers, compliance officers, loan department personnel, mortgage brokers, credit and collection managers, auditors, and accountants.

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More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Lindsay Furr, CPA

Lindsay Furr, CPA

BRG

  • Professional expertise in the financial services industry, specializing in compliance and oversight functions and accounting advisory services for international and community banks, private equity funds, and mortgage and auto originators and servicers
  • Experienced in executing transaction due diligence, performing ongoing monitoring and oversight activities, conducting current and future state assessments, completing enterprise-wide risk assessments, evaluating controls, and implementing and validating remediation activities
  • Engagements have included work on consent orders and enforcement actions from the CFPB and OCC
Vincent Urbancic, CFA

Vincent Urbancic, CFA

BRG

  • 20 years of professional experience working with financial institutions to address their most critical issues
  • Experience spans risk, compliance, and analytics for products such as mortgage, auto, credit card, student lending, and commercial lending, and has included implementing programs and leading teams of senior managers, managers, and consultants serving both bank and non-bank entities
  • Served as the independent consultant for enforcement actions, authoring reports to both the DOJ and CFPB as to the adequacy and effectiveness of remediation activities
  • Led dozens of evaluations on fair lending/servicing for a variety of products such as mortgage, auto, credit cards, student, and commercial
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 407459
Published 2021
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