Latest Compliance - Home Improvement Topics

It's that time of year again. Time for resolutions - and time for updating lots of forms.

Question: What are acceptable ratios for loan applications from minorities and approvals to denials for minorities and non-minorities? Are there any standards?

The Federal Reserve Board has proposed an update to the Official Staff Commentary to Regulation B, Equal Credit Opportunity.

The word from the regulatory agencies is out, and it's final. There will be no delays in implementing the new CRA regulation and examination procedures.

Question: One of the reasons on our adverse action notice form is "Limited credit experience with this bank." Is this a valid reason to deny credit?