How does Canarie support fair lending compliance?

Canarie creates workflows for fair lending monitoring, exception tracking, comparative analysis, and adverse action procedures.

12 CFR Part 1002

ECOA/Reg B Compliance Execution for Neobanks

The Equal Credit Opportunity Act prohibits discrimination in credit transactions. Canarie helps you execute ECOA compliance through automated workflows for fair lending monitoring, exception tracking, and adverse action procedures. Specifically tailored for the compliance requirements of neobanks.

More for Neobanks

Key Requirements

Prohibition of discrimination in credit decisions

Adverse action notice requirements

Record retention requirements

Appraisal and valuation disclosure

Spousal signature restrictions

Monitoring for fair lending compliance

Neobanks Compliance Challenges

Meeting sponsor bank compliance requirements

Building compliance credibility

Scaling compliance with user growth

Preparing for potential direct regulation

Managing third-party risk

How Canarie Helps Neobanks

Automated Workflows

Recurring ECOA/Reg B Compliance Execution tasks are scheduled, assigned, and tracked automatically.

Evidence Capture

Evidence is captured automatically as compliance work is completed.

Audit Trails

Complete audit trails show who did what, when, with immutable records.

Examiner-Ready Export

Export organized evidence packages in formats examiners expect.

Non-Compliance Risks

Actual damages

Punitive damages up to $10,000 individual or $500,000 class action

Equitable and declaratory relief

Attorney fees and costs

Frequently Asked Questions

Other Regulations for Neobanks

31 CFR Chapter X

BSA/AML Compliance Execution

Execute BSA/AML compliance with automated workflows for customer due diligence, transaction monitoring, and suspicious activity reporting.

12 CFR Part 1026

TILA/Reg Z Compliance Execution

Execute Truth in Lending compliance with workflows for disclosure accuracy, APR calculations, and periodic statement requirements.

15 USC 1681

FCRA Compliance Execution

Execute FCRA compliance with workflows for permissible purpose verification, dispute handling, and adverse action procedures.

ECOA/Reg B Compliance Execution for Other Industries

Automate ECOA/Reg B Compliance Execution for Your Neobank

See how neobanks execute compliance with confidence.