Consumer Loan Policy
The purpose of this Consumer Loan Policy Template is to address consumer loan products, underwriting, and related lending operations of a bank, credit union, fintech company, or other type of financial institution. In general, the primary purpose of an organization’s consumer lending operations is to generate income while serving the credit needs of all creditworthy consumers within its geographic area by maintaining an effective loan policy and underwriting standards, in conjunction with sound loan administration by its officers and lending personnel, in order to achieve a healthy loan portfolio.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Risk Management – Topic 4
- Responsibility – Topic 5
- General Credit Underwriting Guidelines – Topic 6
- Account Management – Topic 7
- Unsecured Term Loans – Topic 8
- Revolving Lines of Credit – Topic 9
- Vehicle Loans – Topic 10
- Boat/RV/Trailer Loans – Topic 11
- Motorcycle and ATV Loans – Topic 12
- Overdraft Protection – Topic 13
- Savings/TCD Secured Loans – Topic 14
- Employee Consumer Loan Processing Procedures – Topic 15
- Payday, Vehicle Title, and High-Cost Installment Loans – Topic 16
- Marketplace Loan Program – Topic 17
- Student Loan Program – Topic 18
- Program Reporting – Topic 19
- Collections – Topic 20
- Consumer Debt Sales – Topic 21
- Secured Loans Discharged in Chapter 7 Bankruptcy – Topic 22
- Non-Accrual Status – Topic 23
- Risk Rating Assignment – Topic 24
- Audit Policy – Topic 25
- Staff Training – Topic 26
- Retention of Documentation – Topic 27
Includes the following form templates:
- Consumer Loan Override Request – (1 page)
- Loan Presentation – Consumer – (1 page)
Recent updates to this product:
CFPB Press Release – Consumer Financial Protection Bureau Issues Final Rule on Small Dollar Lending
Joint Press Release – Federal Agencies Share Principles for Offering Responsible Small-Dollar Loans
CFPB Final Rule – Payday, Vehicle Title, and Certain High-Cost Installment Loans; Delay of Compliance Date; Correcting Amendments
Current Expected Credit Losses (CECL) Accounting Standard
OCC Bulletin 2018-48 – Revised Student Lending Booklet
OCC Bulletin 2018-28 – Revised Deposit-Related Credit Booklet
This Consumer Loan Policy Template (approximately 176 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
Want to ensure your purchase from BankPolicies.com remains current? Add a Product Update Protection Plan to your shopping cart to ensure that you will automatically receive an updated version every time it is revised via e-mail within one year from the last date of purchase. This timely and cost-effective solution ensures that you stay on top of federal regulatory changes and industry recommended best practices.
When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.
BankPolicies.com provides your financial institution with the best bank policy template products available in the industry. You will always be up to date with the latest changes to bank policies and never have to worry about being out of compliance with the various laws, rules and regulations issued by the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of the Comptroller of the Currency (OCC), or other federal regulatory bodies that may apply to your organization.
Our dedicated staff of career banking industry professionals are ready to keep your financial institution up to date with the latest bank policy standards and industry best practices. Purchase your bank policies from us today and rest easy knowing you have the right team helping you and your organization stay compliant. We look forward to earning your business for all of your bank policy needs.