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Fair Lending and Assessment Areas

Question: 
To keep within the 50% rule for lending in the assessment area, shouldn’t I take a larger area?
Answer: 

To keep the answer as simple as possible, CRA and Fair Lending look at things differently. While CRA is concerned with where the loans are made, Fair Lending is concerned with what Majority Minority tracts the creditor is not lending in. The Majority-Minority tracts that you’re not marketing to, taking applications and making loans “could” be problematic. Learn more about Fair Lending now.

Vendor: 

GeoDataVision combines the power of the nation’s top CRA and Fair Lending experts with the power of the most sophisticated mapping and data technologies available to provide financial institutions with a leg up when it comes to regulatory compliance. Being wrong is simply not an option, work with the best, work with GeoDataVision. Request a demo, check out our FREE resources, or talk to one of our experts at (203) 907-7497

First published on 10/23/2022

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