Government Monitoring Information: if, When, and How 2022 | Professional Bank Services | 30 August 2022 | Virtual Event

A two-hour webinar that examines the GMI rules under ECOA/Reg B and HMDA/Reg C and the problems that we have.

The Equal Credit Opportunity Act (Regulation B) regulates if and when a financial institutions requests information about an individual’s ethnicity, race, sex, marital status, and age. Similarly, the Home Mortgage Disclosure Act (Regulation C) requires, in certain circumstances, that institutions obtain and report ethnicity, race, sex, and age. These rules are generally referred to as either “Government Monitoring Information” (GMI) or “Demographic Information.”

Although these rules are comparable, there are key differences between the two. Also, although most institutions focus on when these rules require the institution to collect information, there are provisions that permit the institution to request information in certain circumstances.

In addition to understanding the basic rules, the requirement to collect GMI creates numerous practical issues that lenders have to grapple with, which causes numerous violations. GMI is an area that is often cited by examiners. Since this is a fair lending issue, lenders should ensure their procedures are creating a process by which loan officers are collecting this information when required to – and only when required to.

This webinar will discuss the ins-and-outs of the complicated world of GMI. Much of GMI compliance comes down to how well loan officers and loan processors are trained, and the clarity and structure of procedures.

HERE IS WHAT YOU WILL LEARN:

ECOA/Regulation B
Rules that require or allow the institution to collect GMI, including:
• General GMI requirements
• Self-Testing
• Special Purpose Credit Programs
• What information to collect
• How to collect – allowing the applicant to provide this information and when we’re required to complete it for them
• Allowances for HMDA concerns

HMDA/Regulation C
• When to collect – which transactions are subject to GMI collection/reporting
• What information to collect
• Collecting disaggregated information
• How to collect – allowing the applicant to provide this information and when we’re required to complete it for them
• How to report this information on the Loan Application Register - Coding
• FORMAT/INSTRUCTIONAL METHOD: GROUP INTERNET BASED

An online presentation and any additional supplemental materials, as applicable, will serve as the basis of the presentation. You will have the option to stream the audio through your computer or dial-in using a telephone number/PIN. Ample time will be dedicated to taking questions from attendees. Be sure to submit your questions during the webinar, as we are unable to offer telephone or email support after the presentation.

2022 Speaker

Anetria Cohen
Vice President, ProBank Austin