Regulation B/Equal Credit Opportunity Act (ECOA) Policy - $275.00

Summary

The purpose of this Regulation B (ECOA) Policy Template is to address how a 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
Audit Policy - Topic 18
Staff Training - Topic 19
Retention of Documentation - Topic 20

Includes the following form template:
Equal Credit Opportunity Act Sample Notification Forms Template (15 pages)

Recent updates to this product:
10/02/17 Update
CFPB Final Rule - Flexibility and Clarity to Certain Mortgage Lenders in Collecting Information 

This Regulation B Policy Template (approximately 27 pages) is available to purchase from BankPolicies.com in Microsoft® Word format for $275.00.

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