Fair Lending Compliance Testing
Credit and housing transactions are subject to a number of fair-lending laws and regulations. The Equal Credit Opportunity Act (ECOA) prohibits discrimination in any aspect of a consumer or commercial credit transaction. The Fair Housing Act (FHA) prohibits discrimination in all aspects of residential real-estate related transactions.
Kinēsis helps financial institutions self test to evaluate fair-lending compliance through the use of mystery shoppers or post-transaction surveys to test for disparate treatment, overt discrimination and other prohibited lending activities.
Kinēsis’ fair-lending mystery-shopping program provides clients with observations regarding differences in treatment based on prohibited basis across the following areas:
- Customer Rapport
- Probing/Suitability Analysis
- Product Availability
- Disclosures/Product Information
Other Compliance Programs
|Kinēsis’ investment sales mystery shopping program provides clients with detailed information about the investment sales practices, specifically with respect to disclosure and suitability.|
|Our truth in savings mystery shop program is designed to evaluate the presence, timing and accuracy of annual percentage yield (APY) quotes.|
|Kinēsis’ truth in lending mystery shop program evaluates the presence, timing and accuracy of oral and written annual percentage rate (APR) quotes.|
Click here for a blog post describing the positive relationship between compliance and sales effectiveness,:
“Kinēsis delivers a refreshingly simple and user-friendly web publishing system, backed by a professional and responsive team. The feedback serves as a great training tool and the information has had a great impact on our overall customer service achievements.”
- Kim Piotrowski, Columbia Bank