Question

As a director, your fair lending responsibilities include:

A. Approving a written fair lending policy.
B. Determining the institution's loan rates.
C. Reviewing loan files for evidence of discrimination.
D. None of the above.

Answer 1

The director's fair lending responsibilities include reviewing loan files for evidence of discrimination.

Step-by-step explanation:

The answer to this question is option C. Reviewing loan files for evidence of discrimination is a responsibility of the director in terms of fair lending. In order to ensure fair lending practices, directors are required to review loan files to see if there is any evidence of discrimination based on factors such as age, race, sex, or marital status. This helps to prevent any discriminatory practices and ensures that loans are distributed fairly to all applicants.