February 16, 2023
OCC Issues Revisions to Fair Lending Booklet - WST
On January 12, 2023, the OCC released revisions to the “Fair Lending” booklet of the Comptrollers Handbook. (https://www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-5.html). This is the first revision to the “Fair Lending” booklet since 2010.
This booklet can be used by FIs to understand and manage OCC examiner expectations. The revised booklet includes new and clarified details and risk factors for a variety of examination scenarios. In addition, it updates references to supervisory guidance, sound risk management practices, and applicable legal standards. The revised booklet:
- Reflects changes to laws and regulations since this booklet was last published.
- Reflects the current OCC approach to fair lending examinations.
- Includes new and clarified details on examination scenarios.
- Includes clarified and expanded risk factors for a variety of examination types.
- Includes clarifying edits regarding supervisory guidance, sound risk management practices, and applicable legal standards.
- Revises certain content for clarity.
With almost 200 years of combined banking experience within our Compliance Team, 10-D Compliance is ready and willing to assist you in navigating the choppy fair lending waters. 10-D Compliance continues to stay abreast of the risks associated with fair lending compliance, and we are familiar with struggles that most financial institutions face when it comes to fair lending and fair lending examinations.
Authored by: Josh Mourning, CCBP
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