Section 1071 and the Fair Lending Renaissance

Although the technical requirements of the Fair Lending regulations have not undergone significant changes in recent years, expectations for more comprehensive Fair Lending programs continue to expand. With the implementation of Section 1071 and the subsequent expansion of data collection, Fair Lending compliance programs will need to adapt and become a fundamental aspect of a financial institution's risk management function and culture. As many modern consumers increasingly demand that their banks act as both financial and social stewards, financial institutions may need to consider managing the integration of 1071, Fair Lending, and potentially even the social element of Environmental, Social, and Governance (ESG).

Discussion Highlights

• This webinar will cover the regulatory requirements for the Section 1071 final rule
• Crowe SMEs will discuss integration of the 1071 requirements into an institution’s existing Fair Lending Program
• Crowe SMEs will discuss how these changes may benefit the social impact of the banking industry

Speakers

Asaad Faquir is a Senior Manager in Crowe’s Financial Services Consulting, Growth & Intelligence team based in Atlanta, Georgia. He has 15 years of banking and compliance experience including being a Compliance and BSA Officer at a Community Bank, heading up a boutique compliance consulting firm, and being a senior leader for a regional compliance auditing firm in addition to his work at Crowe. He has deep expertise in consumer protection regulations as well as AML/CFT. At Crowe he provides value to Banks and Fintechs by leading engagements focused on designing and implementing compliance strategy, compliance innovation, and compliance technology solutions and integrations. He is a frequent speaker for national, state, and local banking and industry trade associations. Asaad has been an invited guest on podcasts and has been published in Compliance trades and websites.

David Larocque has over 10 years of experience working in Professional Services in the Northeast and over 15 years of experience in the Banking industry. He is an engagement leader for financial institutions with deep expertise in regulatory compliance and Anti-Money Laundering (AML). He is responsible for leading regulatory compliance engagements for Crowe's Financial Services clients in the Northeast. David has been a speaker for various industry groups throughout the Northeast and is the First Vice President – VP Member Experience for the Bank Compliance Association of Connecticut.