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CUACG offers Fair Lending Compliance Review for credit unions

Credit unions are focusing on member needs, the challenges of managing operations during a pandemic and ensuring safe operations. By outsourcing regulatory-related issues, it gives credit union professionals and executives more time to focus on what’s top-of-mind. In response to an often-heard request, CU Audit & Compliance Group (CUACG) is introducing a new service for credit unions: Fair Lending Compliance Review.

This engagement plans to ensure compliance with the following laws and regulation:
• Equal Credit Opportunity Act (ECOA)/Regulation B
• Home Mortgage Disclosure Act (HMDA)/Regulation C
• The Fair Housing Act (FHA)
• National Credit Union Administration (NCUA) rules and regulations concerning nondiscrimination (12 CFR 701.31)

During this review, CUACG expects to examine the following items:
• All policies pertaining to Fair Lending
• Fair Lending Risk Assessment
• Latest HMDA-LAR data
• Fair Lending Training
• Credit Union’s marketing & advertising strategy
• Fair Lending complaints
• Perform different tests concerning the following:
o Collection procedures of the credit union
o A sample of adverse actions
o A sample of mortgage loans approved and denied during the audit period
o A sample of consumer loans originated by the loan officers of the credit union

If you would like a quote for your credit union, please fill out the questionnaire here and return it to Marcus King at If you have any questions, please feel free to reach out to Marcus at 662-322-1038.

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About Us

The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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