Under the Fair Housing Act, what must credit unions do if a self-test identifies violations?

A self-test is a proactive measure that organizations, such as credit unions, can take to assess their compliance with fair housing laws, including the Fair Housing Act. When a self-test identifies violations, it is imperative for the organization to take prompt corrective action. This response is crucial because it demonstrates the credit union's commitment to fair lending practices and helps prevent discriminatory practices from continuing. Taking corrective measures also aids in mitigating legal risks and improving the organization's policies and training to ensure compliance with the law going forward.

By addressing the identified violations swiftly, a credit union can not only align its operations with fair housing requirements but also reinforce trust within the community it serves. This responsiveness is also a key factor in promoting equality and access in lending, which are central tenets of the Fair Housing Act. Therefore, the correct course of action when violations are detected is to take prompt corrective action to remedy the issues identified during the self-test.