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, 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 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
FDIC – Supervisory Insights Journal – Winter 2017
Payday, Vehicle Title, and High-Cost Installment Loan CFPB Final Rule
Use of SSAE 18 Reports
Revised Retail Lending Booklet – OCC Bulletin 2017-15
This Consumer Loan Policy Template (approximately 186 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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