2:30min | Credits: 3 CRCM, CERP
Description: Explores major aspects of ECOA/Reg B from application taking through underwriting and evaluations, to notice and record-keeping requirements. Describes the basic requirements of the Fair Housing Act, and rules for furnishing of credit information, record retention, collecting government monitoring information, providing appraisal reports, and conducting self-testing.
Students will learn through a combination of instructor videos, exercises, readings, glossaries, self-assessments and more. Students will complete each course with a final exam to earn Certified Regulatory Compliance Manager (CRCM) credits.
Audience: Compliance and risk management professionals including compliance managers, officers, and other team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, and auditors.
After completing this course, students will be able to:
- Describe the purpose of the ECOA and the Fair Housing Act, and define key terms used in each
- Identify Regulation B rules relating to the application process, from taking applications to notification of action taken
- Describe Regulation B rules relating to the furnishing of credit information, record retention, collecting government monitoring information, providing appraisal reports, and conducting self-testing
Updated: October 2020