The Board and the Reserve Banks Generally Met the Revised Timing Goals for Certain Fair Lending Matters

In January 2021, the Board implemented a revised review process for submitting and reviewing high-risk redlining matters to improve efficiency. Redlining is illegal discrimination that occurs when a lender provides unequal access to credit, or unequal terms of credit, because of the race, color, national origin, or other prohibited characteristics of the residents of the area where the prospective borrower resides, plans to reside, or seeks to obtain a mortgage on a residential property.

Among other things, we assessed the timeliness of the revised review process by analyzing data on the completion times for submitting and reviewing high-risk redlining matters. We found that the Board and Reserve Banks generally met their revised timing goals for submitting and reviewing high-risk redlining matters. Therefore, our report does not have any recommendations.