Equal Credit Opportunity Act and Other Protections
Outline Laws Prohibiting Discrimination Equal Credit Opportunity Act (ECOA) ECOA Requirements Enforcement Disclosures Fair Housing Act Fair Housing Act Exemptions Fair Housing Violations Discrimination in Mortgage Lending Discriminatory Practices Enforcement Home Mortgage Disclosure Act (HMDA) Reg C Covered Properties Data Reporting Home Ownership and Equity Protection Act (HOEPA) High Cost Loan Triggers Prohibited Practices Required Disclosures Homeowners Protection Act (HPA) Disclosure Provisions of the HPA Gramm-Leach-Bliley Act (GLB Act) Financial Privacy Rule Safeguards Rule E-Sign Act Disclosure Provisions Patriot Act Disclosure Provisions Fair and Accurate Credit Transaction Act (FACT Act) Provisions of the FACT Act …
Overview
Outline
- Laws Prohibiting Discrimination
- Equal Credit Opportunity Act (ECOA)
- ECOA Requirements
- Enforcement
- Disclosures
- Fair Housing Act
- Fair Housing Act Exemptions
- Fair Housing Violations
- Discrimination in Mortgage Lending
- Discriminatory Practices
- Enforcement
- Home Mortgage Disclosure Act (HMDA) Reg C
- Covered Properties
- Data Reporting
- Home Ownership and Equity Protection Act (HOEPA)
- High Cost Loan Triggers
- Prohibited Practices
- Required Disclosures
- Homeowners Protection Act (HPA)
- Disclosure Provisions of the HPA
- Gramm-Leach-Bliley Act (GLB Act)
- Financial Privacy Rule
- Safeguards Rule
- E-Sign Act
- Disclosure Provisions
- Patriot Act
- Disclosure Provisions
- Fair and Accurate Credit Transaction Act (FACT Act)
- Provisions of the FACT Act
- Red Flags Rules
- The National Do Not Call Registry
- Established Business Relationship
- Home Valuation Code of Conduct 2008
- HVCC – Appraiser Independence
Learning Objectives
- Understand the purposes of Regulation B.
- Understand the governing body for the ECOA.
- Understand the timing of required disclosures.
- Understand the record retention requirements for the ECOA.
- Understand Regulation B amendments referencing appraisal requirements.
- Understand what loan originators/lenders can and cannot do during the application process.
- Understand penalty amounts imposed under Regulation B.
- Understand the relationship between the ECOA and Fair Credit Reporting Act.
- Understand the purpose of the Fair Credit Reporting Act.
- Understand the relationship between the Fair Credit Reporting Act and Equal Opportunity Act as it relates to borrower notification of adverse actions.
- Understand the purpose of the Gramm-Leach-Bliley Act.
Teaching Methods:
Power Points, Video PowerPoint Presentation and Quiz
Curriculum
Instructor
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Course Features
- Lecture 1
- Quiz 1
- Duration 1 hour
- Skill level All levels
- Language English
- Students 10
- Assessments Yes