Supporting Equitable Access to Credit
FICO, the leading provider of credit risk assessment solutions, has joined forces with the Independent Community Bankers of America (ICBA) and the National Bankers Association (NBA) to launch a certification program specifically designed for minority banking institutions (MBIs). This groundbreaking initiative aims to enhance the lending practices of MBIs and promote equitable access to credit for underserved communities.
Program Overview
The FICO Lending Certification Program for MBIs provides comprehensive training and certification to lending officers, credit analysts, and loan underwriters. The curriculum covers various aspects of lending, including:
- Credit scoring and underwriting principles
- Data analysis and decision-making
- Risk management and compliance
- Fair lending practices and regulatory requirements
Benefits for MBIs
This certification program offers numerous benefits for MBIs, enabling them to:
* Improve their ability to assess credit risk and make informed lending decisions
* Enhance their compliance with fair lending regulations
* Build strong relationships with community organizations and borrowers
* Promote financial inclusion and economic development in underserved communities
Commitment to Equitable Access
FICO is deeply committed to promoting equitable access to credit. The company’s collaboration with ICBA and NBA underscores its belief that MBIs play a crucial role in bridging the financial gap and fostering economic empowerment.
We are proud to partner with ICBA and NBA to address the unique challenges faced by MBIs, said Mark Greene, FICO’s President of Scores and Analytics. Through this certification program, we aim to empower these institutions with the knowledge and tools they need to make a positive impact in their communities.
Transforming the Lending Landscape
The FICO Lending Certification Program for MBIs represents a significant step towards transforming the lending landscape and creating a more inclusive financial system. By providing tailored training and support, this program empowers MBIs to serve as catalysts for economic progress and financial well-being.
Kind regards
J. Ross
