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:

  • Access
  • Assistance
  • Customer Rapport
  • Probing/Suitability Analysis
  • Product Availability
  • Disclosures/Product Information

 

 

Other Compliance Programs

 

Bank Investment Sales Practices (IDIP) Mystery Shops Kinēsis’ investment sales mystery shopping program provides clients with detailed information about the investment sales practices, specifically with respect to disclosure and suitability.

 

Bank Truth in Savings Mystery Shops Our truth in savings mystery shop program is designed to evaluate the presence, timing and accuracy of annual percentage yield (APY) quotes.

 

Bank Truth in Lending Mystery Shops 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,:

Compliance and Sales Effectiveness Go Hand In Hand

 

 

“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