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F0:Version:2015A Fair Lending Scope and Conclusions MemorandumGeneral Instructional fair lending reviews will be conducted in accordance with the Federal Financial Institutions Examination Council
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Fair lending scope refers to the range of activities and practices that fall under fair lending laws and regulations.
Financial institutions and lenders are required to file fair lending scope assessments to ensure compliance with fair lending laws.
Fair lending scope assessments are typically filled out by collecting and analyzing data related to lending practices, loan approvals, denials, pricing, underwriting, and marketing strategies.
The purpose of fair lending scope assessments is to identify and address any potential discriminatory practices in lending, ensure compliance with fair lending laws, and promote equal access to credit.
Information such as demographic data of loan applicants, loan approval rates, interest rates, loan terms, and marketing strategies must be reported on fair lending scope assessments.
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