Improving Information Quality in Loan Approval Processes for Fair Lending and Fair Pricing

: Current banking data management on loan approval processes has great room for improvements of information quality and prevention of data problems in general, but especially with regards to fair lending and fair pricing practices. We first review briefly typical data collection protocols deployed at many financial institutions for loan approval and loan pricing. Portions of these data protocols are mandated by federal regulation. In discussing the data capture and analysis for fair lending, we illustrate some initial key steps currently needed in improving information quality for all parties involved. Refereed paper to be presented at the Massachusetts Institute Technology's Information Quality Conference October 20-22, 2000 of 80 speakers world wide. Acknowledgements Dr. Guess gratefully acknowledges financial support from the University of Tennessee College of Business Administration Scholarly Research Grant Program and from the system-wide University of Tennessee Professional ...

• Type: Conference
• Year: 2000
• Where: IQ
• Authors: M. Cary Collins, Frank M. Guess
• Keywords: Fair Lending, Information Quality, IQ 2000, IQ 2007, Loan Approval