Regulation B Policy

$325.00

This Regulation B Policy Template addresses how a bank, credit union, fintech company, or other type of financial institution adheres to Regulation B – “Equal Credit Opportunity Act” (ECOA).  The purpose of Regulation B is to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract), the fact that all or part of the applicant’s income derives from a public assistance program, or the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act.  In addition, Regulation B prohibits creditor practices that discriminate on the basis of any of these factors.  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.

Regulation B Policy

This Regulation B Policy Template addresses how a bank, credit union, fintech company, or other type of financial institution adheres to Regulation B – “Equal Credit Opportunity Act” (ECOA).  The purpose of Regulation B is to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract), the fact that all or part of the applicant’s income derives from a public assistance program, or the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act.  In addition, Regulation B prohibits creditor practices that discriminate on the basis of any of these factors.

Table of Contents

  • Purpose and Contents – Topic 1
  • Policy Statement – Topic 2
  • Definitions – Topic 3
  • Limited Exceptions for Certain Classes of Transactions – Topic 4
  • General Rules – Topic 5
  • Rules Concerning Requests for Information – Topic 6
  • Rules Concerning Evaluation of Applications – Topic 7
  • Rules Concerning Extensions of Credit – Topic 8
  • Special Purpose Credit Programs – Topic 9
  • Notifications – Topic 10
  • Furnishing of Credit Information – Topic 11
  • Relation to State Law – Topic 12
  • Information for Monitoring Purposes – Topic 13
  • Rules on Providing Appraisal Reports – Topic 14
  • Rules for Self Testing and Self Correction – Topic 15
  • Enforcement, Penalties and Liabilities – Topic 16
  • Data Collection for Credit Applications – Other – Topic 17
  • Small Business Lending Data Collection – Topic 18
  • Audit Policy – Topic 19
  • Staff Training – Topic 20
  • Retention of Documentation – Topic 21

Includes the following form template:
Equal Credit Opportunity Act Sample Notification Forms Template (15 pages)
Regulation B Data Collection Form (2 pages)

Recent updates to this product:
11/15/23 Update
CFPB Circular 2023-03 – Adverse Action Notification Requirements and the Proper Use of the CFPB’s Sample Forms Provided in Regulation B
CFPB Circular 2022-03 – Adverse Action Notification Requirements in Connection with Credit Decisions Based on Complex Algorithms
04/17/23 Update
CFPB Final Rule – Small Business Lending Under the Equal Credit Opportunity Act (Regulation B)

This Regulation B Policy Template (approximately 38 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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