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Reg B - Application Signed With a "Courtesy Title"

Answered by: 
Dan Persfull

Question: 
If a member fills out an individual credit card application and signs it "Mrs. Ethel Jones", has the credit union violated Reg B by accepting a "courtesy title" that indicates the applicant's marital status, which cannot be considered on the application for unsecured credit?
Answer: 

Reg B prohibits you from inquiring about marital status for unsecured individual credit. As long as you did not request the marital status then you have violated no provisions of Reg B, unless you take the marital status into consideration for your credit decision which would be a prohibited factor unless you are in a community property state. See 202.5(d).

First published on BankersOnline.com 4/14/08

First published on 04/14/2008

Filed under: 
Compliance
Filed under compliance as: 
IT

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