Redlining risk mitigation remains a vital part of fair lending compliance, but it’s more
than avoiding penalties. Financial institutions must be vigilant of redlining
enforcement, where service gaps can lead to costly settlements and reputational damage.
With increasing scrutiny from state and private entities, plus uncertainty at the
federal level, a defined redlining risk strategy is crucial. Proactive compliance
efforts not only protect institutions but also drive growth and build trust.
“We need to remain focused on ensuring fair and reasonable access to credit for all,”
Jason Keller, Director of Market Strategy and Compliance Analytics, opened. “We believe
at Wolters Kluwer, the time to act is now.”