At The Podium
Consumer Lending Liability
Lender liability law requires that lenders treat their borrowers fairly in accordance with state and federal regulations or face potential liability in the form of litigation, monetary damages, regulatory actions, and even criminal penalties.
While presenting at the Oklahoma Bankers Association’s 2018 Consumer Lending School, McAfee & Taft corporate attorneys Kaitlyn Chaney and Barrett Ellis provide an overview of consumer liability law, discuss specific Oklahoma statutes and regulations pertaining to mortgage releases and the disposition of repossessed property, and review a myriad of federal statutes and regulations related to their consumer lending obligations, including Truth in Lending and Regulation Z, RESPA and Regulation X, Equal Credit Opportunity Act, Military Lending Act, Home Mortgage Disclosure Act, and the Fair Debt Collection Practices Act.
The one-week OBA Consumer Lending School is designed to provide students a broader knowledge of the consumer credit function as an integral part of retail banking and a vital source of bank income, increase their comprehension of the managerial aspects of consumer credit operations, and provide them with a framework for examining a bank’s consumer credit programs, policies and procedures.