Consumer Loan Policy

$395.00

This Consumer Loan Policy Template addresses 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.  See more information about this product below.  In addition, we recommend adding a Product Update Protection Plan to your shopping cart to ensure you automatically receive an updated version of this policy template every time it is revised by us via e-mail within one year from the date of purchase.

Consumer Loan Policy

This Consumer Loan Policy Template addresses 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
  • Buy Now Pay Later Loans – Topic 19
  • Program Reporting – Topic 20
  • Collections – Topic 21
  • Consumer Debt Sales – Topic 22
  • Secured Loans Discharged in Chapter 7 Bankruptcy – Topic 23
  • Non-Accrual Status – Topic 24
  • Risk Rating Assignment – Topic 25
  • Audit Policy – Topic 26
  • Staff Training – Topic 27
  • Retention of Documentation – Topic 28

Includes the following form templates:

  • Consumer Loan Override Request – (1 page)
  • Loan Presentation – Consumer – (1 page)

Recent updates to this product:
03/18/24 Update
Eliminate and/or modify references to the term “Troubled Debt Restructuring” (TDR) with a “Borrower Experiencing Financial Difficulty.”
12/18/23 Update
OCC Bulletin 2023-37 – Retail Lending: Risk Management of Buy Now, Pay Later Lending
05/15/23 Update
FDIC FIL-19-2023 – Supervisory Guidance on Charging Overdraft Fees for Authorize Positive, Settle Negative Transactions
OCC Bulletin 2023-12 – Overdraft Protection Programs: Risk Management Practices
09/01/22 Update
OCC Bulletin 2022-20 – Accounting: Bank Advisory Series Updated – Accounting Standards Update (ASU) 2022-02 – “Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures”
03/01/22 Update
CFPB Bulletin 2022-03 – Servicer Responsibilities in Public Service Loan Forgiveness Communications
11/17/21 Update
FDIC Final Rule – Real Estate Lending Standards
OCC Bulletin 2021-52 – Retail Lending: Revised Comptroller’s Handbook Booklet and Rescissions

This Consumer Loan Policy Template (approximately 188 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.

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