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CFPB Consumer Laws and Regulations ECOA
CFPB June 2013 ECOA 1
Equal Credit Opportunity Act (ECOA)The Equal Credit Opportunity Act (ECOA), which is implemented by Regulation B, applies to all creditors. When originally enacted, ECOA gave the Federal Reserve Board responsibility for prescribing the implementing regulation. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) transferred this authority to the Consumer Financial Protection Bureau (CFPB or Bureau). The Dodd-Frank Act granted rule-making authority under ECOA to the CFPB and, with respect to entities within its jurisdiction, granted authority to the CFPB to supervise for and enforce compliance with ECOA and its implementing regulations.1
In December 2011, the CFPB restated the Federal Reserve’s implementing regulation at 12 CFR Part 1002 (76 Fed. Reg. 79442)(December 21, 2011). In January 2013, the CFPB amended Regulation B to reflect the Dodd-Frank Act amendements requiring creditors to provide applicants with free copies of all appraisals and other written valuations developed in connection with all credit applications to be secured by a first lien on a dwelling. This amendment to Regulation B also requires creditors to notify applicants in writing that copies of all appraisals will be provided to them promptly.
The statute provides that its purpose is to require financial institutions and other firms engaged in the extension of credit to “make credit equally available to all creditworthy customers without regard to sex or marital status.” Moreover, the statute makes it unlawful for “any creditor to discriminate against any applicant with respect to any aspect of a credit transaction (1) on the basis of race, color, religion, national origin, sex or marital status, or age (provided the applicant has the capacity to contract); (2) because all or part of the applicant’s income derives from any public assistance program; or (3) because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.” The ECOA has two principal theories of liability: disparate treatment and disparate impact. Disparate treatment occurs when a creditor treats an applicant differently based on a prohibited basis such as race or national origin.2 Disparate impact occurs when a creditor employs facially neutral policies or practices that have an adverse effect or impact on a member of a protected class unless it meets a legitimate business need that cannot reasonably be achieved by means that are less disparate in their impact.3
In keeping with the broad reach of the statute’s prohibition, the regulation covers creditor activities before, during, and after the extension of credit. A synopsis of some of the more important points of Regulation B follows, and an examination program is provided for a more thorough review.
1Sec.1071 of the Dodd-Frank Act added a new Sec. 704B to ECOA to require the collection of small business loan data. The amendment will be reflected in this document at a later date once it becomes effective.212 CFR Part 1002 Supp. I Sec. 1002.4(a)-1; 12 CFR Part 1002 Supp. I Sec. 1002.4(a)-1. “Disparate treatment” may be “overt” (when the creditor openly discriminates on a prohibited basis) or it may be found through comparing the treatment of applicants who receive different treatment for no discernable reason other than a prohibited basis. In the latter case, it is not necessary that the creditor acts with any specific intent to discriminate. 312 CFR Part 1002 Supp. I Sec. 1002.6(a)-2.
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For fair lending scoping and examination procedures, the CFPB is temporarily adopting the FFIEC Interagency Fair Lending Examination Procedures that are referenced in the examination program. However, in applying those procedures the CFPB takes into account that the Fair Housing Act (FHAct), 42 U.S.C. 3601 et seq., unlike ECOA, is not a “Federal consumer financial law” as defined by the Dodd-Frank Act for which the CFPB has supervisory authority.4
Applicability – 12 CFR 1002.2(e), 1002.2(f), 1002.2(j), 1002.2(l), 1002.2(m), and 1002.2(q)Regulation B applies to all persons who, in the ordinary course of business, regularly participate in the credit decision, including setting the terms of the credit. The term “creditor” includes a creditor’s assignee, transferee, or subrogee who so participates. For purposes of discrimination or discouragement, 12 CFR 1002.4(a) and (b), the term creditor also includes a person who, in the ordinary course of business, regularly refers applicants or prospective applicants to creditors, or selects or offers to select creditors to whom requests for credit may be made.
Regulation B’s prohibitions apply to every aspect of an applicant’s dealings with a creditor regarding an application for credit or an existing extension of credit (including, but not limited to: information requirements; investigation procedures; standards of creditworthiness; terms of credit; furnishing of credit information; revocation, alteration, or termination of credit; and collection procedures). The regulation defines “applicant” as any person who requests or who has received an extension of credit from a creditor and includes any person who is or may become contractually liable regarding an extension of credit. Under Regulation B, an “application” means an oral or written request for an extension of credit made in accordance with procedures used by a creditor for the type of credit requested. “Extension of credit” means “the granting of credit in any form (including, but not limited to, credit granted in addition to any existing credit [,] the refinancing or other renewal of credit...or the continuance of existing credit without any special effort to collect at or after maturity).” Because the ECOA and Regulation B prohibit discrimination in any aspect of a credit transaction, a creditor violates the statute and regulation when discriminating against borrowers on a prohibited basis in approving or denyingloan modifications. Moreover, as the definition of credit includes the right granted by a creditor to an applicant to defer payment of a debt, a loan modification is itself an extension of credit and subject to ECOA and Regulation B. Examples of loan modifications that are extensions of credit include, but are not limited to, the right to defer payment of a debt by capitalizing accrued
4 In addition to potential ECOA violations, an examiner may identify potential violations of the FHAct through the course of an examination. The FHAct prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability). The CFPB cooperates with the U.S. Department of Housing and Urban Development (HUD) to further the purposes of the FHAct. If a potential FHAct violation is identified, the examiner must consult with Headquarters to determine whether areferral to HUD or the U.S. Department of Justice and, if applicable, the creditor’s prudential regulator is appropriate.
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interest and certain escrow advances, reducing the interest rate, extending the loan term, and/or providing for principal forbearance.5
Prohibited Practices – 12 CFR 1002.4Regulation B contains two basic and comprehensive prohibitions against discriminatory lending practices:
A creditor shall not discriminate against an applicant on a prohibited basis regarding any aspect of a credit transaction.
A creditor shall not make any oral or written statement, in advertising or otherwise, to applicants or prospective applicants that would discourage, on a prohibited basis, a reasonable person from making or pursuing an application.
Note that the regulation is concerned not only with the treatment of persons who have initiated the application process, but also with lender behavior before the application is even taken. Lending officers and employees must be careful to take no action that would, on a prohibited basis, discourage a reasonable person from applying for a loan. For example, a creditor may not advertise its credit services and practices in ways that would tend to encourage some types of borrowers and discourage others on a prohibited basis. In addition, a creditor may not use prescreening tactics likely to discourage potential applicants on a prohibited basis. Instructions to loan officers or brokers to use scripts, rate quotes, or other means to discourage applicants from applying for credit on a prohibited basis are also prohibited.
The prohibition against discouraging applicants applies to in-person oral and telephone inquiries as well as to written applications. Lending officers must refrain from requesting prohibited information in conversations with applicants during the pre-interview phase (that is, before the application is taken) as well as when taking the written application.
To prevent discrimination in the credit-granting process, the regulation imposes a delicate balance between the creditor’s need to know as much as possible about a prospective borrower with the borrower’s right not to disclose information irrelevant to the credit transaction as well as relevant information that is likely to be used in connection with discrimination on a prohibited basis. To this end, the regulation addresses taking, evaluating, and acting on applications as well as furnishing and maintaining credit information.
Electronic Disclosures – 12 CFR 1002.4(d)Disclosures required to be given in writing may be provided to the applicant in electronic form, generally subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. 7001 et seq.).
5 See Federal Reserve Board Consumer Affairs Letter 09-13 (December 4, 2009) (http://www.federalreserve.gov/boarddocs/caletters/2009/0913/caltr0913.htm).
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Rules for Taking Applications – 12 CFR 1002.5Regulation B permits creditors to ask for any information in connection with a credit transaction,so long as they avoid certain clearly defined areas set forth in 12 CFR 1002.5, which include both the specific prohibited bases of discrimination and certain types of information that often relates to discrimination on a prohibited basis.
Applicant Characteristics
Creditors may not request or collect information about an applicant’s race, color, religion, national origin, or sex. Exceptions to this rule generally involve situations in which the information is necessary to test for compliance with fair lending rules or is required by a state or federal regulatory agency or other government entity for a particular purpose, such as to determine eligibility for a particular program. For example, a creditor may request prohibited information:
In connection with a self-test being conducted by the creditor (provided that the self-test meets certain requirements) (12 CFR 1002.15);
For monitoring purposes in relation to credit secured by real estate (12 CFR 1002.13; the Home Mortgage Disclosure Act, 12 U.S.C. 2801 (“HMDA”); Home Affordable Modification Program (“HAMP”)); or
To determine an applicant’s eligibility for special-purpose credit programs (12 CFR1002.8(b), (c) and (d)).
Information about a Spouse or Former Spouse –12 CFR 1002.5(c)A creditor may not request information about an applicant’s spouse or former spouse except under the following circumstances:
The non-applicant spouse will be a permitted user of or joint obligor on the account. (NOTE:The term “permitted user” applies only to open-end accounts.)
The non-applicant spouse will be contractually liable on the account.
The applicant is relying on the spouse’s income, at least in part, as a source of repayment.
The applicant resides in a community property state, or the property upon which the applicant is relying as a basis for repayment of the credit requested is located in such a state.
The applicant is relying on alimony, child support, or separate maintenance income as a basis for obtaining the credit.
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Inquiries Concerning Marital Status –12 CFR 1002.5(d)(1) and 1002.5(d)(3)Individual Credit
When an applicant applies for individual credit, the creditor may not ask the applicant’s marital status. There are two exceptions to this rule:
If the credit transaction is to be secured, the creditor may ask the applicant’s marital status. (This information may be necessary to determine what would be required to gain access to the collateral in the event of default.)
If the applicant either resides in a community property state or lists assets to support the debt that are located in such a state, the creditor may ask the applicant’s marital status. (In community property states, assets owned by a married individual may also be owned by the spouse, thus complicating the availability of assets to satisfy a debt in the event of default.)
Joint Credit
When a request for credit is joint (made by two or more individuals who will be primarily liable), the creditor may ask the applicant’s marital status, regardless of whether the credit is to be secured or unsecured, but may use only the terms “married,” “unmarried,” and “separated.” This requirement applies to oral as well as written requests for marital status information. ‘‘Unmarried’’ may be defined to include divorced, widowed, or never married, but the application must not be structured in such a way as to encourage the applicant to distinguish among these.
Alimony, Child Support, or Separate Maintenance Income –12 CFR 1002.5(d)(2)A creditor may ask if an applicant is receiving alimony, child support, or separate maintenance payments. However, the creditor must first disclose to the applicant that such income need not be revealed unless the applicant wishes to rely on that income in the determination of creditworthiness. An appropriate notice to that effect must be given whenever the creditor makes a general request concerning income and the source of that income. Therefore, a creditor either must ask questions designed to solicit only information about specific income (for example, “salary,” “wages,” “employment,” or other specified categories of income) or must state that disclosure of alimony, child support, or separate maintenance payments is not required.
Residency and Immigration Status – 12 CFR 1002.5(e)The creditor may inquire about the applicant’s permanent residence and immigration status in the United States in determining creditworthiness.
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Rules for Evaluating Applications – 12 CFR 1002.6General Rule
A creditor may consider any information in evaluating applicants, so long as the use of the information does not have the intent or the effect of discriminating against an applicant on a prohibited basis. Generally, a creditor may not:
Consider any of the prohibited bases, including age (providing the applicant is old enough, under state law, to enter into a binding contract) and the receipt of public assistance;
Use child-bearing or child-rearing information, assumptions, or statistics to determine whether an applicant’s income may be interrupted or decreased;
Consider whether there is a telephone listing in the applicant’s name (but the creditor may consider whether there is a telephone in the applicant’s home); or
Discount or exclude part-time income from an applicant or the spouse of an applicant.
Systems for Analyzing Credit
Regulation B neither requires nor endorses any particular method of credit analysis. Creditors may use traditional methods, such as judgmental systems that rely on a credit officer’s subjective evaluation of an applicant’s creditworthiness, or they may use more-objective, statistically developed techniques such as credit scoring.
Credit Scoring Systems
Section 1002.2(p) of Regulation B prescribes the standards that a credit scoring system must meet to qualify as an ‘‘empirically derived, demonstrably and statistically sound, credit system.’’ All forms of credit analysis that do not meet the standards are automatically classified as ‘‘judgmental’’ systems. This distinction is important because creditors that use a ‘‘demonstrably and statistically sound’’ system may take applicant age directly into account as a predictivevariable,6 whereas judgmental systems may do so only to determine a pertinent element of creditworthiness or to favor an elderly applicant.
Judgmental Evaluation Systems
Any system other than one that is empirically derived and demonstrably and statistically sound,is a judgmental system (including any credit scoring system that does not meet the prescribed technical standards). With limited exception, such a system may not take applicant age directly into account in evaluating creditworthiness. The act and the regulation permit a creditor to consider the applicant’s age for the purpose of evaluating other applicant information that has a
6 This applies provided that the age of an elderly applicant is not assigned a negative factor or value.
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demonstrable relationship to creditworthiness.7 Additionally, in any system of evaluating creditworthiness, a creditor may consider the age of an elderly applicant to favor the applicant in extending credit.
Rules for Extensions of Credit – 12 CFR 1002.7Section 1002.7 of Regulation B provides a set of rules proscribing certain discriminatory practices regarding the creation and continuation of credit accounts.
Signature Requirements
The primary purpose of the signature requirements is to permit creditworthy individuals (particularly women) to obtain credit on their own. Two general rules apply:
A creditor may not require a signature other than the applicant’s or joint applicant’s if under the creditor’s standards of creditworthiness the applicant qualifies for the amount and terms of the credit requested.
A creditor has more latitude in seeking signatures on instruments necessary to reach property used as security, or in support of the customer’s creditworthiness, than it has in obtaining the signatures of persons other than the applicant on documents that establish the contractual obligation to repay.
When assessing the level of a creditor’s compliance with the signature requirements, examiners should consult with the Examiner-in-Charge if any questions arise.
Special-Purpose Credit Programs – 12 CFR 1002.8The ECOA and Regulation B allow creditors to establish special-purpose credit programs for applicants who meet certain eligibility requirements. Generally, these programs target an economically disadvantaged class of individuals and are authorized by federal or state law. Some are offered by not-for-profit organizations that meet certain IRS guidelines, and some by for-profit organizations that meet specific tests outlined in 12 CFR 1002.8.
Examiners are encouraged, if an issue arises regarding such a program, to consult with Headquarters.
Notifications – 12 CFR 1002.9A creditor must notify an applicant of action taken on the applicant’s request for credit, whether favorable or adverse, within 30 days after receiving a completed application. Notice of approval may be expressly stated or implied (for example, the creditor may give the applicant the credit card, money, property, or services for which the applicant applied).
Notification of adverse action taken on an existing account must also be made within 30 days.
7Judgmental systems may consider the amount and probable continuance of income. A planned reduction in income due to retirement may, for example, be considered.
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Under at least two circumstances, the creditor need not comply with the 30-day notification rule:
The creditor must notify an applicant of adverse action within 90 days after making a counteroffer unless the applicant accepts or uses the credit during that time.
The creditor may not have to notify an applicant of adverse action if the application was incomplete and the creditor sent the applicant a notice of incompleteness that met certain requirements set forth in 12 CFR 1002.9(c).
Adverse Action Notice – 12 CFR 1002.9(a)(2)A notification of adverse action must be in writing and must contain certain information, including the name and address of the creditor and the nature of the action that was taken. In addition, the creditor must provide an ECOA notice that includes the identity of the federal agency responsible for enforcing compliance with the act for that creditor. This notice is generally included on the notification of adverse action. The creditor must also either provide the applicant with the specific principal reason for the action taken or disclose that the applicant has the right to request the reason(s) for denial within 60 days of receipt of the creditor’s notification, along with the name, address, and telephone number of the person who can provide the specific reason(s) for the adverse action. The reason may be given orally if the creditor also advises the applicant of the right to obtain the reason in writing upon request.
Incomplete Applications – 12 CFR 1002.9(c)When a creditor receives an incomplete application, it may send one of two alternative notifications to the applicant. One is a notice of adverse action; the other is a notice of incompleteness. The notice of incompleteness must be in writing and must specify the information the creditor needs if it is to consider the application; it must also provide a reasonable period of time for the applicant to furnish the missing information.
Applications Submitted Through a Third Party –12 CFR 1002.9(g)When more than one creditor is involved in a transaction and adverse action is taken with respect to the application for credit by all the creditors involved, each creditor that took such action must provide a notice of action taken. The notification may be given by a third party; however, the notice must disclose the identity of each creditor on whose behalf the notice is given. If one of the creditors approves the application, the creditors that took adverse action need not provide notification.
Notification to Business Credit Applicants –12 CFR 1002.9(a)(3)The notification requirements for business credit applicants are different from those for consumer credit applicants and are more extensive if the business had gross revenues of
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$1,000,000 or less in the preceding fiscal year. Extensions of trade credit, credit incident to a factoring agreement, and similar types of credit are subject to the same rules as those that apply to businesses that had gross revenues of more than $1,000,000.
Generally, a creditor must comply with the same notification requirements for business credit applicants with gross revenues of $1,000,000 or less as it does for consumer credit applicants. However, the creditor has more options when dealing with these business credit applicants. First, the creditor may tell the business credit applicant orally of the action taken. Second, if the creditor chooses to provide a notice informing the business credit applicant of the right to request the reason for action taken, it may, rather than disclose the reason itself, provide the notice at the time of application. If the creditor chooses to inform the applicant of the right to request a reason, however, it must provide a disclosure with an ECOA notice that is in retainable form and that gives the applicant the same information that must be provided to consumer credit applicants when this option is used (see 12 CFR 1002.9(a)(2)(ii)). Finally, if the application was made entirely over the phone, the creditor may provide an oral statement of action taken and of the applicant’s right to a statement of reasons for adverse action.
The notification requirements for business credit applicants with gross revenues of more than $1,000,000 are relatively simple. The creditor must notify the applicant of the action taken within a reasonable time period. The notice may be oral or in writing; a written statement of the reasons for adverse action and the ECOA notice need be provided only if the applicant makes a written request within 60 days of the creditor’s notification of the action taken.
Designation of Accounts – 12 CFR 1002.10(a)A creditor that furnishes credit information to a consumer reporting agency must designate:
Any new account to reflect the participation of both spouses if the applicant’s spouse ispermitted to use or is contractually liable on the account; and
Any existing account to reflect the participation of both spouses within 90 days after receiving a written request to do so from one of the spouses.
If a creditor furnishes credit information to a consumer reporting agency, the creditor must furnish the information in the name of the spouse about whom the information was requested.
Record Retention – 12 CFR 1002.12Applications
In general, a creditor must preserve all written or recorded information connected with an application for 25 months (12 months for business credit) after the date on which the creditor informed the applicant of action taken on an application or of incompleteness of an application.
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Prohibited Information
A creditor may retain information in its files that it may not use in evaluating applications. However, the information must have been obtained inadvertently or in accordance with federal or state law or regulation.
Existing Accounts
A creditor must preserve any written or recorded information concerning adverse action on an existing account as well as any written statement submitted by the applicant alleging a violation of the ECOA or Regulation B. This evidence must be kept for 25 months (12 months for business credit).
Prescreened Solicitations
The 25-month retention rule also applies when a creditor makes an offer of credit to potential customers. In such cases, the creditor must retain for 25 months following the date of the solicitation:
The text of any prescreened solicitation;
The list of criteria the creditor used to select potential recipients of the solicitation; and
Any correspondence related to complaints (formal or informal) about the solicitation.
Rules on Providing Appraisals and Other Valuations – 12 CFR 1002.14
Providing appraisals and other valuations – 12 CFR 1002.14(a)(1)Regulation B requires that creditors provide applicants with a copy of all appraisals and other written valuations8 developed in connection with an application for credit to be secured by a first lien on a dwelling. A creditor shall provide the copy of each such appraisal or other written valuation promptly upon completion, or at least three business days prior to consummation of the transaction (for closed-end credit) or account opening (for open-end credit), whichever is earlier. An applicant may waive the timing requirement and agree to receive any copy at or before consummation or account opening, except where otherwise prohibited by law. Any such waiver must be obtained at least three business days prior to consummation or account opening, unlessthe waiver pertains solely to the applicant’s receipt of a copy of an appraisal or other written valuation that contains only clerical changes from a previous version provided to the applicant or other written valuation provided to the applicant three or more business days prior to
8 Regulation B defines a valuation as “any estimate of the value of a dwelling developed in connection with an application for credit”. 12 CFR 1002.14(b)(3). Additionally, examples of valuations can be found in the Official Interpretations of Regulation B at 1002.14(b)(3)(1)(i) – (v).
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consummation or account opening. If the applicant provides a waiver and the transaction is not consummated or the account is not opened, the creditor must provide these copies no later than 30 days after the creditor determines consummation will not occur or the account will not be opened.
Disclosure – 12 CFR 1002.14(a)(2)
A creditor shall mail or deliver a notice in writing of the applicant’s right to receive a copy of all written appraisals or valuations developed in connection with the application, no later than the third business day after the creditor receives an application for credit that is to be secured by a first lien on a dwelling. A special timing rule applies if an application for credit is not to be secured by a first lien on a dwelling at the time of application, but the creditor later determines that it will be secured by such a lien. In that case the creditor shall mail or deliver the same disclosure in writing no later than the third business day after determining that the loan is to be secured by a first lien on a dwelling. If the disclosure required under 12 CFR 1002.14(a)(2) accompanies an application accessed by the applicant in electronic form, it may be provided in electronic form on or with the application form, without regard to the consumer consent or other provisiosn of the E-Sign Act. (15 U.S.C. 7001 et seq.). See 12 CFR 1002.4(d)(2).
Reimbursement – 12 CFR 1002.14(a)(3)
A creditor shall not charge an applicant for providing a copy of appraisals and/or other written valuations, but may require applicants to pay a reasonable fee to reimburse the creditor for the cost of the appraisal or other written valuation unless otherwise provided by law.9
Withdrawn, Denied, or Incomplete Applications – 12 CFR 1002.14(a)(4)
The requirements to provide copies of appraisals and other written valuations developed in connection with an application for credit to be secured by a first lien on a dwelling apply whether credit is extended or denied or if the application is incomplete or withdrawn.
Copies in Electronic Form – 12 CFR 1002.14(a)(5)
Required copies of appraisals and other written valuations may be provided to the applicant in electronic form, subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. 7001 et seq.).
Incentives for Self-Testing and Self-Correction –12 CFR 1002.15
9 Creditors are required to provide copies of appraisals or valuations even if the consumer does not pay the reasonable fee.
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A self-test, as discussed in 12 CFR 1002.15 of Regulation B, must meet two criteria. First, it must be a program, practice, or study that a lender designs and uses specifically to determine the extent or effectiveness of its compliance with the regulation. Second, the results of the self-test must create data or factual information that is otherwise not available and cannot be derived from loan or application files or other records related to credit transactions. The findings of a self-test that is conducted voluntarily by a creditor and that meets the conditions set forth in 12 CFR1002.15 are privileged against discovery or use by (1) a government agency in any examination or investigation related to the ECOA or Regulation B or (2) a government agency or an applicant in any legal proceeding involving an alleged violation of the ECOA or Regulation B. Privileged information includes the report or results of the test; data or other information created by the test; and any analysis, opinions, or conclusions regarding the results of the test.
To qualify for the privilege, appropriate corrective action is required when the results of a self-test show that it is more likely than not that there has been a violation of the ECOA or Regulation B.10 The privilege does not cover information about whether a test was conducted; the methodology, scope, time period, or dates covered by the test; loan or application files or other business records; and information derived from such files and records, even if aggregated, summarized, or reorganized.
Enforcement, Penalties, and Liabilities – 12 CFR 1002.16In addition to actual damages, the Act provides for punitive damages of up to $10,000 in individual lawsuits and up to the lesser of $500,000 or 1 percent of the creditor’s net worth in class action suits. Successful complainants are also entitled to an award of court costs and attorney’s fees.
A creditor is not liable for failure to comply with the notification requirements of 12 CFR 1002.9or the reporting requirements of 12 CFR 1002.10 if the failure was caused by an inadvertent error and the creditor, after discovering the error (1) corrects the error as soon as possible and (2) begins compliance with the requirements of the regulation. ‘‘Inadvertent errors’’ include mechanical, electronic, and clerical errors that the creditor can show (1) were not intentional and (2) occurred despite the fact that the creditor maintains procedures reasonably adapted to avoid such errors. Similarly, failure to comply with 12 CFR 1002.6(b)(6), 1002.12, and 1002.13 is not considered a violation if it results from an inadvertent error and the creditor takes the corrective action noted above. Errors involving 12 CFR 1002.12 and 1002.13 may be corrected prospectively by the creditor.
REFERENCESLaws12 U.S.C. 1691 et seq. Equal Credit Opportunity Act
1012 CFR 1002.15(c)
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Regulations Consumer Financial Protection Bureau Regulation (12 CFR)
Part 1002 Equal Credit Opportunity (Regulation B)
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Equal Credit Opportunity Act
Examination Procedures
To determine whether the creditor has established policies, procedures, and internal controls to ensure that it is in compliance with the Equal Credit Opportunity Act (ECOA) and its implementing Regulation B.
To determine whether the creditor discriminated against members of one or more protected classes in any aspect of its credit operations.
To determine whether the creditor is in compliance with those requirements of ECOA that are set forth in Regulation B.
NOTE: This document refers throughout to the Interagency Fair Lending ExaminationProcedures (“IFLEP”). When applying those procedures, it is important to keep in mind that the Fair Housing Act, unlike ECOA, is not a “Federal consumer financial law” for which the CFPB has supervisory authority.
Section A: ECOA / REGULATION B COMPLIANCEMANAGEMENT / RISK ASSESSMENT EXAMINATION PROCEDURESA. Examination Objective & Purpose
To determine whether the creditor has established policies, procedures and internal controls to ensure that it is in compliance with the ECOA and Regulation B. The intensity and scope of the current ECOA / Regulation B examination will depend in part on the adequacy of the creditor’s compliance management program.
B. Examination Procedures1. Review the creditor’s overall compliance management program. Following the
Compliance Management Review procedures in the CFPB’ Supervision/Examination Manual; verify that the ECOA and Regulation B compliance is effectively integrated into the creditor’s compliance management program.
2. Consult Part II (“Compliance Management Review”) of the IFLEP and apply the Compliance Management Analysis Checklist in the IFLEP Appendix.
NOTE: When performing 1 and 2 above, pay special close attention to the creditor’s compliance management policies and procedures with respect to the following:
Does any aspect of the creditor’s credit operations appear to vary by any of the prohibited bases? Examples: (i) The creditor establishes most of its branches in predominately non-
Exam Date: [Click&type]Prepared By: [Click&type]Reviewer: [Click&type]Docket #: [Click&type]Entity Name: [Click&type]
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minority neighborhoods and does not have a presence in nearby minority neighborhoods; or (ii) Spanish and English advertisements emphasize different credit products.
Do the creditor’s underwriting or pricing guidelines contain any unusual criteria that could have a possibly negative disparate impact on a protected class? (e.g., underwriting or price models that use ZIP codes.
Are the creditor’s policies, procedures, or guidelines vague or unduly subjective with respect to (i) underwriting; (ii) pricing; (iii) referring applicants to subsidiaries, affiliates, or lending channels within the creditor; (iv) classifying applicants as “prime” or “sub-prime” borrowers; or (v) deciding what kinds of alternative loan products should be offered or recommended to applicants?
Does the creditor allow exceptions to its underwriting, pricing, or product recommendation policies and procedures to be made subjectively or without clear guidance? Even if the policies and procedures are clear, does the creditor make a large number of such exceptions?
Does the creditor give its employees significant discretion to decide what products to offer or the price to offer, including both interest rates and fees?
Does any employee receive incentives depending, directly or indirectly, on the terms or conditions of the credit product sold or the price (including both interest rates and fees) charged?
Does the creditor rely on third parties, such as brokers, for a significant part of its credit operations?
These factors create conditions under which the risk of fair lending violations may be increased.Whether any particular factor constitutes a fair lending violation requires consideration of the particular facts and circumstances at issue.
C. Examiner’s Compliance Management / Risk Assessment Examination Summary, Recommendation and Comments
[Click&type]
CFPBExamination Procedures ECOA
CFPB June 2013 Procedures 3
Section B: FAIR LENDING EXAMINATION PROCEDURESA. Examination Objective & Purpose
To determine whether the creditor discriminated against members of one or more protected classes in any aspect of its credit operations.
B. Pre-Examination Procedures – Data Request1
1. For mortgages, determine if the CFPB has received all the data typically used by creditors in pricing and underwriting decisions.2 If not, in consultation with Headquarters, request from the creditor all relevant data in electronic format.
2. For non-mortgage products, in consultation with Headquarters, request from the creditorall relevant data in electronic format.
NOTE: It may take a significant amount of time for the creditor to produce data and for Headquarters to review it. Data requests should be sent out as early as practicable to ensure the incorporation of all analyses in the examination.
C. Pre-Examination Procedures – Scoping No single fair lending examination can reasonably be expected to scrutinize every aspect of an institution’s credit operations. The purpose of pre-examination scoping is to help examiners target areas with the highest fair lending risk.
The examiners, together with Headquarters, should use statistical analyses whenever appropriate to scope fair lending examinations in addition to following the procedures in Part I of the IFLEP (“Examination Scope Guidelines”).
1. Review any preliminary data screens provided by Headquarters to identify possible examination focal points.3
2. Review information from previous compliance examinations that could inform potential focal points of the current examination.
3. Follow the steps in the Examination Scope Guidelines. Inform Headquarters of the information you gathered about the creditor. Consult Headquarters to determine what additional information would be helpful to improve data analyses and refine scoping.
4. Together with Headquarters, finalize the scope and intensity of the fair lending examination.
1 If it is decided that statistical methods will not be used in the examination, this step can be skipped.2 For some creditors, the CFPB routinely requests additional mortgage data fields beyond the HMDA data. For these creditors,the examiners will likely not have to make any pre-examination mortgage data requests.3 A focal point is a combination of loan product(s), market(s), decision center(s), time frame and prohibited basis to be analyzed during the fair lending examination.
CFPBExamination Procedures ECOA
CFPB June 2013 Procedures 4
D. Examination ProceduresThe IFLEP’s examination procedures (Part III) are focused on conducting comparative file reviews and not statistical analysis. It is important to supplement the IFLEP examination procedures whenever statistical analysis is involved.
1. When statistical analysis is not part of the examination, follow Part III of the IFLEP to examine the creditor. Working with Headquarters, assess possible violations, and follow Part IV of the IFLEP, Steps 1–3, when discussing results with the creditor and reviewing all responses.
2. When statistical analysis is part of the examination, examiners should work closely with Headquarters to do the following:
a. Follow Part III of the IFLEP to examine the creditor, including conducting comparative file reviews as appropriate.
b. Integrate creditor-specific information into statistical models. Follow Part III.A of the IFLEP to verify the accuracy of the data. To the extent HMDA data is used, apply the HMDA / Regulation C examination procedures to verify data integrity. For non-mortgage data, consult with Headquarters on how to verify data integrity. If the most recent Compliance Management review indicates that the creditor does not have adequate policies and procedures in place to ensure data integrity, increase the sample size for the data verification.
c. Assess possible violations, and follow Part IV of the IFLEP, Step 1, to discuss results with the creditor, including sharing our statistical analyses with the creditor and asking for comments and explanations.
d. Review the creditor’s response. Follow Part IV of the IFLEP, Steps 2–3. If necessary, in consultation with Headquarters, refine our statistical models and re-analyze.
3. Consult with Headquarters to reach the final conclusions. Follow Part IV of the IFLEP, Steps 4–5.
E. Examiner’s Fair Lending Examination Summary, Recommendation and Comments
[Click&type]
CFPB Examination Procedures ECOA
CFPB Manual V.2 (October 2012) Procedures 5
Section C: REGULATION B EXAMINATION CHECKLIST
A. Examination Objective & Purpose
To determine whether the creditor is in compliance with those requirements of ECOA that are set forth in Regulation B.
B. Examination ProceduresThe ECOA and its implementing Regulation B not only prohibit discrimination in credit transactions, but also set forth additional requirements, such as requiring adverse action notices in appropriate circumstances. Thus, not all items on the checklist relate to discrimination. Some items on the checklist, however, do reflect a possible fair lending violation even though they are not stated in those terms.
Accordingly, depending on the general risk profile of the creditor and the Section A Compliance Management/Risk Assessment, not all items on the checklist need be included in every fair lending exam. Examiners should consult with Headquarters to determine which sections of this checklist should be completed in an examination.
The checklist, supporting documentation for any apparent violations, and management response should be included in the work papers. In consultation with Headquarters, the Examiner-in-Charge, and the Regional Manager, request that the management responsible for the transactions provide a response on any apparent violations.
A “No” answer indicates a possible exception or deficiency and should be explained in the work papers.4 If a line item is not applicable within the area you are reviewing, indicate “NA.”
4 If the violation of 12 CFR 1002.6(b)(6), 1002.9, 1002.10, 1002.12, or 1002.13 results from an inadvertent error, namely a mechanical, electronic, or clerical error that the creditor demonstrates was not intentional and occurred notwithstanding the maintenance of procedures reasonably adapted to avoid such errors, there is no violation. On discovering an inadvertent errorunder 12 CFR 1002.9 and 1002.10, the creditor must correct it as soon as possible; inadvertent errors under 12 CFR 1002.12 and 1002.13 must be corrected prospectively. To determine whether an error is inadvertent, you should consult with the Examiner-in-Charge.
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
6
All c
itatio
ns a
re to
Reg
ulat
ion
B, 1
2 C
FR P
art1
002.
Yes
No
Bas
is o
f Con
clus
ion
Proh
ibite
d Pr
actic
es[C
lick&
type
]D
iscr
imin
atio
n[C
lick&
type
]Se
e Se
ctio
n B:
Fai
r Len
ding
Exa
min
atio
n Pr
oced
ures
[Clic
k&ty
pe]
Dis
cour
agem
ent
[Clic
k&ty
pe]
Obt
ain
and
revi
ew m
arke
ting
and
adve
rtisi
ng m
ater
ials
(incl
udin
g sig
ns o
r ot
her d
ispla
ys),
pres
cree
ned
solic
itatio
ns, a
nd th
e cr
iteri
a us
ed to
det
erm
ine
the
pote
ntia
l rec
ipie
nts o
f the
par
ticul
ar so
licita
tion,
scri
pts,
and
inte
rvie
w
form
s use
d fo
r pre
-app
licat
ion
inte
rvie
ws a
nd fo
r tak
ing
appl
icat
ions
, and
ra
te sh
eets
and
pro
duct
info
rmat
ion
used
in d
iscus
sing
avai
labl
e ty
pes o
f cr
edit
with
app
lican
ts. C
ondu
ct lo
an a
gent
inte
rvie
ws t
o de
term
ine
whe
ther
th
ey sh
ow a
n un
ders
tand
ing
of th
e re
gula
tory
requ
irem
ents
.
[Clic
k&ty
pe]
1.D
oes t
he c
redi
tor n
ot m
ake
any
oral
or w
ritte
n st
atem
ents
, in
adve
rtisi
ng o
r oth
erw
ise,
to a
pplic
ants
or p
rosp
ectiv
e ap
plic
ants
that
w
ould
dis
cour
age
on a
pro
hibi
ted
basi
s a re
ason
able
per
son
from
m
akin
g or
pur
suin
g an
app
licat
ion?
(12
CFR
1002
.4(b
))
[Clic
k&ty
pe]
2.D
oes t
he c
redi
tor n
ot u
se st
atem
ents
that
the
appl
ican
t sho
uld
not
both
er to
app
ly b
ased
on
a pr
ohib
ited
basi
s (e.
g., y
ou sh
ould
n’t b
othe
r to
app
ly b
ecau
se y
ou a
re re
tired
)? (1
2 C
FR P
art 1
002,
Sup
p. I,
C
omm
ent
1002
.4(b
)-1(i)
)
[Clic
k&ty
pe]
3.D
oes t
he c
redi
torn
ot u
se w
ords
, sym
bols
, mod
els o
r oth
er fo
rms o
f co
mm
unic
atio
n in
adv
ertis
ing
that
exp
ress
, im
ply,
or s
ugge
st a
di
scrim
inat
ory
pref
eren
ce o
r a p
olic
y of
exc
lusi
on in
viol
atio
n of
the
ECO
A?
(Com
men
t 100
2.4(
b)-1
(ii))
[Clic
k&ty
pe]
4.D
oes t
he c
redi
tor n
ot u
se sc
ripts
that
dis
cour
age
appl
icat
ions
on
a pr
ohib
ited
basi
s? (C
omm
ent 1
002.
4(b)
-1(ii
i))[C
lick&
type
]
5.A
re th
e cr
iteria
use
d fo
r pre
scre
ened
solic
itatio
ns n
ot d
iscr
imin
ator
y on
a p
rohi
bite
d ba
sis?
(12
CFR
1002
.4(a
), (b
))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
7
Yes
No
Bas
is o
f Con
clus
ion
6.D
oes t
he te
xt o
f any
pre
scre
ened
solic
itatio
ns a
void
stat
emen
ts th
at
wou
ldte
nd to
dis
cour
age,
on
a pr
ohib
ited
basi
s, a
reas
onab
le p
erso
n fr
om m
akin
g or
pur
suin
g an
app
licat
ion?
(12
CFR
1002
.4(b
))
[Clic
k&ty
pe]
Rul
es fo
r T
akin
g A
pplic
atio
ns5
Obt
ain
and
revi
ew a
pplic
atio
n fo
rms (
incl
udin
g sc
ripts
for t
elep
hone
ap
plic
atio
ns a
nd sc
reen
shot
s of o
nlin
e ap
plic
atio
ns),
disc
losu
res,
a sa
mpl
e of
lo
an fi
les,6
cred
itorp
olic
ies a
nd p
roce
dure
s and
aud
its p
erta
inin
g to
the
taki
ng o
f app
licat
ions
, and
trai
ning
mat
eria
ls.Co
nduc
t loa
n of
ficer
inte
rvie
ws
to d
eter
min
e wh
ethe
r the
y sh
ow a
n un
ders
tand
ing
of th
e re
gula
tory
re
quire
men
ts an
d th
at p
olic
ies a
nd p
roce
dure
s are
con
siste
ntly
app
lied.
7.D
oes t
he c
redi
toru
se w
ritte
n ap
plic
atio
ns fo
r cre
dit t
hat i
sprim
arily
fo
r the
pur
chas
e or
refin
anci
ng o
f dw
ellin
gs th
at a
re o
ccup
ied
or to
be
occu
pied
by
the
appl
ican
t as a
prin
cipa
l res
iden
ce a
nd w
here
the
cred
it w
ill b
e se
cure
d by
the
dwel
lings
? (1
2 C
FR10
02.4
(c),
1002
.13(
a))
[Clic
k&ty
pe]
8.If
the
cred
itorc
olle
cts i
nfor
mat
ion
(in a
dditi
on to
info
rmat
ion
requ
ired
for g
over
nmen
t mon
itorin
g pu
rpos
es, s
uch
as12
CFR
100
2.13
,H
MD
A, a
nd H
AM
P) o
n th
e ra
ce, c
olor
, rel
igio
n, n
atio
nal o
rigin
, or
sex
of th
e ap
plic
ant o
r any
oth
er p
erso
n in
con
nect
ion
with
a c
redi
t tra
nsac
tion
for p
urpo
ses o
f a “
self-
test
”:a.
Doe
s the
cre
dito
r mee
t the
“se
lf-te
st”
requ
irem
ents
of 1
2 C
FR10
02.1
5 (s
eeC
heck
list I
tem
s 70–
71)?
[Clic
k&ty
pe]
5A
cre
dito
r may
obt
ain in
form
atio
n th
at is
oth
erw
ise re
stric
ted
to d
eter
min
e eli
gibi
lity
for a
spec
ial p
urpo
se p
rogr
am, a
s pro
vide
d in
12
CFR
1002
.8(b
), (c
), an
d (d
). T
o th
e ex
tent
ther
e is
an a
ppro
priat
ely
esta
blish
ed a
nd a
dmin
ister
ed sp
ecial
pur
pose
pro
gram
und
er w
hich
any
oth
erw
ise re
stric
ted
info
rmat
ion
was
requ
este
d, o
btain
ing
such
info
rmat
ion
shou
ld n
ot
cons
titut
e a
viol
atio
n, a
nd H
eadq
uarte
rs a
nd th
e E
xam
iner
-in-C
harg
e sh
ould
be
cons
ulte
d.6
To th
e ex
tent
the
inst
itutio
n m
ainta
ins a
ny in
form
atio
n in
its f
iles t
hat i
s pro
hibi
ted
by th
e E
COA
or R
egul
atio
n B
for u
se in
eva
luat
ing
appl
icatio
ns, t
hat i
nfor
mat
ion
may
be
reta
ined
if
it w
as o
btain
ed (a
) prio
r to
Mar
ch 2
3, 1
977;
(b) f
rom
con
sum
er re
porti
ng a
genc
ies, a
n ap
plic
ant,
or o
ther
s with
out t
he sp
ecifi
c req
uest
of t
he c
redi
tor;
or (c
) as r
equi
red
to m
onito
r co
mpl
iance
with
the
ECO
A a
nd R
egul
atio
n B
or o
ther
fede
ral o
r sta
te st
atut
es o
r reg
ulat
ions
. (1
2 CF
R 10
02.1
2(a)
)
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
8
Yes
No
Bas
is o
f Con
clus
ion
b.D
oes t
he c
redi
tor d
iscl
ose
to th
e ap
plic
ant,
oral
ly o
r in
writ
ing,
w
hen
requ
estin
g th
e in
form
atio
n th
at:(
1) th
e ap
plic
ant i
s not
re
quire
d to
pro
vide
the
info
rmat
ion;
(2) t
he c
redi
tor i
s re
ques
ting
the
info
rmat
ion
to m
onito
r its
com
plia
nce
with
the
fede
ral
ECO
A; (
3) F
eder
al la
w p
rohi
bits
the
cred
itor f
rom
dis
crim
inat
ing
on th
e ba
sis o
f thi
s inf
orm
atio
n, o
r on
the
basi
s of a
n ap
plic
ant’s
de
cisi
on n
ot to
furn
ish
the
info
rmat
ion;
and
(4) i
f app
licab
le,
certa
in in
form
atio
n w
ill b
e co
llect
ed b
ased
on
visu
al o
bser
vatio
nor
surn
ame
if no
t pro
vide
d by
the
appl
ican
t or o
ther
per
son?
(12
CFR
1002
.5(b
)(1)
)
[Clic
k&ty
pe]
9.If
a de
sign
atio
n of
title
, suc
h as
Ms.,
Mis
s, M
rs.,
or M
r. is
requ
este
d on
an
app
licat
ion
form
, doe
s the
form
dis
clos
e th
at su
ch d
esig
natio
n is
op
tiona
l, an
d do
es th
e ap
plic
atio
n fo
rmot
herw
ise
use
only
term
s tha
t ar
e ne
utra
l as t
o se
x? (1
2 CF
R10
02.5
(b)(
2))
[Clic
k&ty
pe]
10.
Doe
s the
cre
dito
ronl
y re
ques
t any
info
rmat
ion
conc
erni
ng th
e sp
ouse
or
form
er sp
ouse
of a
n ap
plic
ant w
hen:
a.Th
e sp
ouse
will
be
perm
itted
to u
se th
e ac
coun
t;[C
lick&
type
]b.
The
spou
se w
illbe
con
tract
ually
liab
le o
n th
e ac
coun
t;[C
lick&
type
]c.
The
appl
ican
t is r
elyi
ng o
n th
e sp
ouse
’s in
com
e as
a b
asis
for
repa
ymen
t of t
he c
redi
t req
uest
ed;
[Clic
k&ty
pe]
d.Th
e ap
plic
ant r
esid
es in
a c
omm
unity
pro
perty
stat
e or
is re
lyin
g on
pro
perty
loca
ted
in su
ch a
stat
e as
a b
asis
for r
epay
men
t of t
he
cred
it re
ques
ted;
or
[Clic
k&ty
pe]
e.Th
e ap
plic
ant i
s rel
ying
on
alim
ony,
chi
ld su
ppor
t, or
sepa
rate
m
aint
enan
ce p
aym
ents
from
a sp
ouse
or f
orm
er sp
ouse
as a
bas
is
for r
epay
men
t of t
he c
redi
t req
uest
ed?
(12
CFR
1002
.5(c
)(2)
)
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
9
Yes
No
Bas
is o
f Con
clus
ion
11.
In th
e ca
se o
f app
licat
ions
for i
ndiv
idua
l uns
ecur
ed c
redi
t, do
es th
e cr
edito
r inq
uire
abo
ut th
e ap
plic
ant’s
mar
ital s
tatu
s onl
y w
hen
the
appl
ican
t res
ides
in a
com
mun
ity p
rope
rty st
ate
or is
rely
ing
on
prop
erty
loca
ted
in su
ch a
stat
e as
a b
asis
for r
epay
men
t of t
he c
redi
t re
ques
ted?
(12
CFR
1002
.5(d
)(1)
)
[Clic
k&ty
pe]
12.
In th
e ca
se o
f app
licat
ions
for o
ther
than
indi
vidu
al u
nsec
ured
cre
dit,
are
the
cred
itor’
s inq
uirie
s int
o m
arita
l sta
tus l
imite
d to
the
term
s “m
arrie
d,”
“unm
arrie
d,”
and
“sep
arat
ed”
(a c
redi
tor m
ay e
xpla
in th
at
the
cate
gory
“un
mar
ried”
incl
udes
sing
le, d
ivor
ced,
and
wid
owed
pe
rson
s)?
(12
CFR
1002
.5(d
)(1)
)
[Clic
k&ty
pe]
13.
If th
e cr
edito
r inq
uire
s whe
ther
inco
me
stat
ed in
an
appl
icat
ion
is
deriv
ed fr
om a
limon
y, c
hild
supp
ort,
or se
para
te m
aint
enan
ce
paym
ents
, doe
s the
cre
dito
r als
o di
sclo
se to
the
appl
ican
t tha
t suc
h in
com
e ne
ed n
ot b
e re
veal
ed if
the
appl
ican
t doe
s not
wan
t the
cre
dito
r to
con
side
r the
info
rmat
ion
in d
eter
min
ing
the
appl
ican
t’s
cred
itwor
thin
ess?
(12
CFR
1002
.5(d
)(2)
)
[Clic
k&ty
pe]
14.
Doe
s the
cre
dito
r not
inqu
ire a
bout
birt
h co
ntro
l pra
ctic
es, i
nten
tions
co
ncer
ning
the
bear
ing
or re
arin
g of
chi
ldre
n, o
r cap
abili
ty to
bea
r ch
ildre
n? (A
cre
dito
r may
inqu
ire a
bout
the
num
ber a
nd a
ges o
f an
appl
ican
t’s d
epen
dent
s or a
bout
dep
ende
nt-re
late
d fin
anci
al
oblig
atio
ns o
r exp
endi
ture
s, pr
ovid
ed su
ch in
form
atio
n is
requ
este
d w
ithou
t reg
ard
to se
x, m
arita
l sta
tus,
or a
ny o
ther
pro
hibi
ted
basi
s.) (1
2C
FR10
02.5
(d)(
3))
[Clic
k&ty
pe]
Rul
es fo
r E
valu
atin
g A
pplic
atio
nsO
btai
n an
d re
view
pol
icie
s and
pro
cedu
res,
train
ing
mat
eria
ls, a
sam
ple
of
loan
file
s, au
dits
perta
inin
g to
eva
luat
ing,
and
pric
ing
appl
icat
ions
for c
redi
t (in
clud
ing,
but
not
lim
ited
to th
ose
rega
rdin
g lo
an se
rvic
ing,
mod
ifica
tions
, co
llect
ions
, and
loss
miti
gatio
n), a
ndin
form
atio
n re
gard
ing
statis
tical
mod
els
used
in c
redi
t eva
luat
ions
. Co
nduc
t loa
n un
derw
riter
inte
rvie
ws to
det
erm
ine
whet
her t
hey
show
an
unde
rsta
ndin
g of
the
regu
lato
ry re
quire
men
ts an
d th
at
polic
ies a
nd p
roce
dure
s are
con
siste
ntly
app
lied.
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
10
Yes
No
Bas
is o
f Con
clus
ion
15.
To th
e ex
tent
that
a c
redi
tort
akes
into
acc
ount
an
appl
ican
t’s a
ge
(ass
umin
gth
at th
e ap
plic
ant h
as th
e ca
paci
ty to
ent
er in
to a
bin
ding
co
ntra
ct),
dete
rmin
e w
heth
er th
e cr
edito
ruse
s age
in a
n em
piric
ally
de
rived
, dem
onst
rabl
y an
d st
atis
tical
ly so
und,
cre
dit s
corin
g sy
stem
or
a ju
dgm
enta
l sys
tem
.(12
CFR
1002
.2(p
))a.
In a
n em
piric
ally
der
ived
, dem
onst
rabl
y an
d st
atis
tical
ly so
und,
cr
edit
scor
ing
syst
em, i
s age
a p
redi
ctiv
e va
riabl
e an
d is
the
age
of
an e
lder
ly a
pplic
ant (
62 o
r old
er) n
ot a
ssig
ned
a ne
gativ
e fa
ctor
or
valu
e? (1
2 C
FR10
02.6
(b)(
2)(ii
))
[Clic
k&ty
pe]
b.In
a ju
dgm
enta
l sys
tem
of e
valu
atin
g cr
editw
orth
ines
s, is
the
appl
ican
t’s a
ge c
onsi
dere
d on
ly fo
r the
pur
pose
of d
eter
min
ing
a pe
rtine
nt e
lem
ent o
f cre
ditw
orth
ines
s? (1
2 C
FR10
02.6
(b)(
2)(ii
i))
[Clic
k&ty
pe]
c.Ex
cept
as s
et fo
rth in
Che
cklis
t Ite
m 1
5(b)
abo
ve (u
se fo
r per
tinen
t el
emen
t of c
redi
twor
thin
ess)
, in
any
syst
em fo
reva
luat
ing
cred
itwor
thin
ess,
is th
e ag
e of
an
appl
ican
t 62
or o
lder
con
side
red
only
to fa
vor h
im o
r her
in e
xten
ding
cre
dit?
(12
CFR
1002
.6(b
)(2)
(iv))
[Clic
k&ty
pe]
16.
Doe
s the
cre
dito
r onl
y ta
ke in
to a
ccou
nt w
heth
er a
n ap
plic
ant’s
inco
me
deriv
es fr
om a
ny p
ublic
ass
ista
nce
prog
ram
in a
judg
men
tal s
yste
m o
f ev
alua
ting
cred
itwor
thin
ess a
nd o
nly
for t
he p
urpo
se o
f det
erm
inin
g a
perti
nent
ele
men
t of c
redi
twor
thin
ess?
(12
CFR
1002
.6(b
)(2)
(iii))
[Clic
k&ty
pe]
17.
Whe
n ev
alua
ting
cred
itwor
thin
ess,
does
the
cred
itor n
ot m
ake
assu
mpt
ions
or u
se a
ggre
gate
stat
istic
s rel
atin
g to
the
likel
ihoo
d th
at
any
cate
gory
of p
erso
ns w
ill b
ear o
r rea
r chi
ldre
n or
will
, for
that
re
ason
, rec
eive
dim
inis
hed
or in
terr
upte
d in
com
e in
the
futu
re?
(12
CFR
1002
.6(b
)(3)
)
[Clic
k&ty
pe]
18.
Doe
s the
cre
dito
r not
take
into
acc
ount
whe
ther
ther
e is
a te
leph
one
listin
g in
the
nam
e of
an
appl
ican
t for
con
sum
er c
redi
t? (
12 C
FR10
02.6
(b)(
4))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
11
Yes
No
Bas
is o
f Con
clus
ion
19.
Doe
s the
cre
dito
r cou
nt, a
nd n
ot d
isco
unt o
r exc
lude
from
co
nsid
erat
ion,
the
inco
me
of a
n ap
plic
ant o
r the
spou
se o
f an
appl
ican
t be
caus
e of
a p
rohi
bite
d ba
sis?
(12
CFR
1002
.6(b
)(5)
) (A
cre
dito
r may
co
nsid
er th
e am
ount
and
pro
babl
e co
ntin
uanc
e of
any
inco
me
in
eval
uatin
g an
app
lican
t’s c
redi
twor
thin
ess.)
[Clic
k&ty
pe]
20.
Doe
s the
cre
dito
r con
side
r inc
ome
deriv
ed fr
om p
art-t
ime
empl
oym
ent,
alim
ony,
chi
ld su
ppor
t, se
para
te m
aint
enan
ce p
aym
ents
, re
tirem
ent b
enef
its, o
r pub
lic a
ssis
tanc
e on
an
indi
vidu
al b
asis
, and
not
on
the
basi
s of a
ggre
gate
stat
istic
s? (
Com
men
t 100
2.6(
b)(5
)-1)
[Clic
k&ty
pe]
21.
Doe
s the
cre
dito
r cou
nt, a
nd n
ot d
isco
unt o
r exc
lude
from
co
nsid
erat
ion,
the
inco
me
of a
n ap
plic
ant o
r the
spou
se o
f an
appl
ican
t be
caus
e th
e in
com
e is
der
ived
from
par
t-tim
e em
ploy
men
t, is
an
annu
ity, p
ensi
on, o
r oth
er re
tirem
ent b
enef
it, o
r com
es fr
om m
ultip
le
inco
me
stre
ams?
(12
CFR
1002
.6(b
)(5)
, Com
men
t 100
2.6(
b)(5
)-4)
(A
cred
itor m
ay c
onsi
der t
he a
mou
nt a
nd p
roba
ble
cont
inua
nce
of a
ny
inco
me
in e
valu
atin
g an
app
lican
t’s c
redi
twor
thin
ess.)
[Clic
k&ty
pe]
22.
Whe
n an
app
lican
t rel
ies o
n al
imon
y, c
hild
supp
ort,
or se
para
te
mai
nten
ance
pay
men
ts in
app
lyin
g fo
r cre
dit,
does
the
cred
itor
cons
ider
such
pay
men
ts a
s inc
ome
to th
e ex
tent
that
they
are
like
ly to
be
con
sist
ently
mad
e?(1
2 C
FR10
02.6
(b)(
5))
[Clic
k&ty
pe]
23.
To th
e ex
tent
the
cred
itor c
onsi
ders
cre
dit h
isto
ry in
eva
luat
ing
the
cred
itwor
thin
ess o
f sim
ilarly
qua
lifie
d ap
plic
ants
for a
sim
ilar t
ype
and
amou
nt o
f cre
dit,
in e
valu
atin
g an
app
lican
t’s c
redi
twor
thin
ess,
does
th
e cr
edito
r con
side
r:
[Clic
k&ty
pe]
a.Th
e cr
edit
hist
ory,
whe
n av
aila
ble,
of a
ccou
nts d
esig
nate
d as
ac
coun
ts th
at th
e ap
plic
ant a
nd th
eap
plic
ant’s
spou
se a
re
perm
itted
to u
se o
r for
whi
ch b
oth
are
cont
ract
ually
liab
le?
(12
CFR
1002
.6(b
)(6)
(i))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
12
Yes
No
Bas
is o
f Con
clus
ion
b.O
n th
e ap
plic
ant’s
requ
est,
any
info
rmat
ion
that
the
appl
ican
t may
pr
esen
t tha
t ten
ds to
indi
cate
the
cred
it hi
stor
y be
ing
cons
ider
ed b
y th
e cr
edito
r doe
s not
acc
urat
ely
refle
ct th
e ap
plic
ant’s
cr
editw
orth
ines
s? (1
2 C
FR10
02.6
(b)(
6)(ii
))
[Clic
k&ty
pe]
c.O
n th
e ap
plic
ant’s
requ
est,
the
cred
it hi
stor
y, w
hen
avai
labl
e, o
f an
y ac
coun
t rep
orte
d in
the
nam
e of
the
appl
ican
t’ssp
ouse
or
form
er sp
ouse
that
the
appl
ican
t can
dem
onst
rate
acc
urat
ely
refle
cts t
he a
pplic
ant’s
cre
ditw
orth
ines
s? (1
2 C
FR10
02.6
(b)(
6)(ii
i))
[Clic
k&ty
pe]
24.
Doe
s the
cre
dito
r not
den
y cr
edit
in w
hole
or i
n pa
rt ba
sed
on th
e co
untry
an
appl
ican
t is f
rom
? (C
omm
ent 1
002.
2(z)
-2))
[Clic
k&ty
pe]
25.
Are
mar
ried
and
unm
arrie
d ap
plic
ants
eva
luat
ed b
y th
e sa
me
stan
dard
s? (1
2 C
FR10
02.6
(b)(
8))
[Clic
k&ty
pe]
26.
In e
valu
atin
g jo
int a
pplic
ants
, are
join
t app
lican
ts tr
eate
d in
the
sam
e m
anne
r reg
ardl
ess o
f the
exis
tenc
e, a
bsen
ce, o
r lik
elih
ood
of a
mar
ital
rela
tions
hip
betw
een
the
parti
es?
(12
CFR
1002
.6(b
)(8)
)
[Clic
k&ty
pe]
27.
Doe
s the
cre
dito
r not
con
side
r rac
e, c
olor
, rel
igio
n, o
r sex
(or a
n ap
plic
ant’s
or o
ther
per
son’
sdec
isio
n no
t to
prov
ide
the
info
rmat
ion)
in
any
asp
ect o
f a c
redi
t tra
nsac
tion?
(12
CFR
1002
.6(b
)(1)
, (9)
)
[Clic
k&ty
pe]
Rul
es fo
r E
xten
sion
s of C
redi
tO
btai
n an
d re
view
pol
icie
s and
pro
cedu
res,
trai
ning
mat
eria
ls, a
sam
ple
of
loan
file
s, cl
osin
g in
struc
tions
on
a sa
mpl
e of
loan
s, an
d au
dits
per
tain
ing
to
exte
nsio
ns o
f cre
dit (
incl
udin
g, b
ut n
ot li
mite
d to
sign
atur
e re
quire
men
ts a
nd
acco
unt m
anag
emen
t). C
ondu
ct lo
an o
ffice
r and
clo
sing
agen
t int
ervi
ews t
o de
term
ine
whe
ther
they
show
an
unde
rsta
ndin
g of
the
regu
lato
ry
requ
irem
ents
and
that
pol
icie
s and
pro
cedu
res a
re c
onsi
stent
ly a
pplie
d.28
.D
oes t
he c
redi
tor n
ot re
fuse
to g
rant
an
indi
vidu
al a
ccou
nt to
a
cred
itwor
thy
appl
ican
t on
a pr
ohib
ited
basi
s? (
12 C
FR10
02.7
(a))
[C
lick&
type
]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
13
Yes
No
Bas
is o
f Con
clus
ion
29.
Doe
s the
cre
dito
r not
refu
se to
allo
w a
n ap
plic
ant t
o op
en o
r mai
ntai
n an
acc
ount
in a
birt
h-gi
ven
first
nam
e an
d a
surn
ame
that
is th
e ap
plic
ant’s
birt
h-gi
ven
surn
ame,
the
spou
se’s
surn
ame,
or a
com
bine
d su
rnam
e? (1
2 C
FR10
02.7
(b))
[Clic
k&ty
pe]
30.
With
resp
ect t
o ap
plic
ants
who
are
con
tract
ually
liab
le o
n an
exi
stin
g op
en-e
nd a
ccou
nt, d
oes t
he c
redi
tor o
n th
e ba
sis o
f the
app
lican
t’s
reac
hing
a c
erta
in a
ge o
r ret
iring
or o
n th
eba
sis o
f a c
hang
e in
the
appl
ican
t’s n
ame
or m
arita
l sta
tus,
not r
equi
re re
appl
icat
ion
(exc
ept a
s pe
rmitt
ed b
y 12
CFR
1002
.7(c
)(2)
, see
Che
cklis
t Ite
m 3
1), c
hang
e th
e te
rms o
f the
acc
ount
, or t
erm
inat
e th
e ac
coun
t, un
less
ther
e is
evi
denc
e of
the
appl
ican
t’s in
abili
ty o
r unw
illin
gnes
s to
repa
y? (
12 C
FR10
02.7
(c)(
1))
[Clic
k&ty
pe]
31.
To th
e ex
tent
the
cred
itorr
equi
res r
eapp
licat
ion
for a
n op
en-e
nd
acco
unt o
n th
e ba
sis o
f a c
hang
e in
the
mar
ital s
tatu
s of a
n ap
plic
ant
who
is c
ontra
ctua
lly li
able
:a.
Doe
s it d
o so
onl
y w
hen
(1) t
he o
rigin
al c
redi
t gra
nted
was
bas
ed
in w
hole
or i
n pa
rt on
the
inco
me
of th
e ap
plic
ant’s
spou
se; a
nd (2
) th
e cr
edito
r has
info
rmat
ion
avai
labl
eto
it in
dica
ting
that
the
appl
ican
t’s in
com
e m
ay n
ot su
ppor
t the
am
ount
of c
redi
t cur
rent
ly
avai
labl
e; a
nd
[Clic
k&ty
pe]
b.D
oes i
t allo
w th
e ac
coun
t hol
der f
ull a
cces
s to
the
acco
unt u
nder
th
e ex
istin
g co
ntra
ct te
rms w
hile
the
reap
plic
atio
n is
pen
ding
? (1
2C
FR10
02.7
(c)(
2), C
omm
ent 1
002.
7(c)
(2)-1
)
[Clic
k&ty
pe]
32.
For j
oint
app
licat
ions
, is t
here
evi
denc
e of
an
inte
ntto
app
ly fo
r joi
nt
cred
it at
the
time
of a
pplic
atio
n? (
The
cred
itor s
hall
not d
eem
the
subm
issi
on o
f a jo
int f
inan
cial
stat
emen
t or o
ther
evi
denc
e of
join
tly
held
ass
ets a
s an
appl
icat
ion
for j
oint
cre
dit.)
(12
CFR
1002
.7(d
)(1)
, C
omm
ent 1
002.
7(d)
(1)-3
)
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
14
Yes
No
Bas
is o
f Con
clus
ion
33.
Doe
s the
cre
dito
r allo
w a
n ap
plic
ant w
ho is
indi
vidu
ally
cre
ditw
orth
y to
obt
ain
cred
it w
ithou
t a sp
ouse
’s o
r oth
er p
erso
n’s s
igna
ture
(oth
er
than
as a
join
t app
lican
t)? (1
2 C
FR10
02.7
(d)(
1), C
omm
ent
1002
.7(d
)(1)
-1)
[Clic
k&ty
pe]
34.
Doe
s the
cre
dito
r req
uire
a si
gnat
ure
of a
n ap
plic
ant’s
spou
se o
r oth
er
pers
on, o
ther
than
a jo
int a
pplic
ant,
on a
ny c
redi
t ins
trum
ent i
n on
ly
the
follo
win
g ci
rcum
stan
ces a
nd b
ased
onl
y on
exi
stin
g fo
rms o
f ow
ners
hip
and
not o
n th
e po
ssib
ility
of a
subs
eque
nt c
hang
e (C
omm
ent 1
002.
7(d)
(2)-1
(i)):
[Clic
k&ty
pe]
a.If
an a
pplic
ant r
eque
sts u
nsec
ured
cre
dit a
nd re
lies i
n pa
rt up
on
prop
erty
that
the
appl
ican
t ow
ns jo
intly
with
ano
ther
per
son
to
satis
fy th
ecr
edito
r’s st
anda
rds o
f cre
ditw
orth
ines
s, th
e cr
edito
r re
quire
s the
sign
atur
e of
the
othe
r per
son
only
on
the
instr
umen
t(s)
nece
ssar
y, o
r rea
sona
bly
belie
ved
by th
e cr
edito
r to
be n
eces
sary
, un
der t
he la
w o
f the
stat
e in
whi
ch th
e pr
oper
ty is
loca
ted,
to e
nabl
e th
e cr
edito
r to
reac
h th
e pr
oper
ty b
eing
relie
d up
on in
the
even
t of
the
deat
h or
def
ault
of th
e ap
plic
ant.
(12
CFR
1002
.7(d
)(2))
[Clic
k&ty
pe]
b.If
a m
arrie
d ap
plic
ant r
eque
sts u
nsec
ured
cre
dit a
nd re
side
s in
a co
mm
unity
pro
perty
stat
e, o
r if t
he a
pplic
ant i
s rel
ying
on
prop
erty
lo
cate
d in
such
a st
ate,
the
cred
itor r
equi
res t
he si
gnat
ure
of th
e sp
ouse
onl
y on
any
inst
rum
ent n
eces
sary
, or r
easo
nabl
y be
lieve
d by
the
cred
itor t
o be
nec
essa
ry, u
nder
app
licab
le st
ate
law
to m
ake
the
com
mun
ity p
rope
rty a
vaila
ble
to sa
tisfy
the
debt
in th
e ev
ent o
f de
faul
t and
(1) a
pplic
able
stat
e la
w d
enie
s the
app
lican
t pow
er to
m
anag
e or
con
trol s
uffic
ient
com
mun
ity p
rope
rty to
qua
lify
for t
he
cred
it re
ques
ted
unde
r the
cre
dito
r’s s
tand
ards
of c
redi
twor
thin
ess;
an
d (2
) the
app
lican
t doe
s not
hav
e su
ffic
ient
sepa
rate
pro
perty
to
qual
ify fo
r the
cre
dit r
eque
sted
with
out r
egar
d to
com
mun
ity
prop
erty
. (1
2 C
FR10
02.7
(d)(
3))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
15
Yes
No
Bas
is o
f Con
clus
ion
c.If
an a
pplic
ant r
eque
sts s
ecur
ed c
redi
t, th
e cr
edito
r req
uire
s the
si
gnat
ure
of th
e ap
plic
ant’s
spou
se o
r oth
er p
erso
n on
ly o
n th
ose
inst
rum
ents
nec
essa
ry, o
r rea
sona
bly
belie
ved
by th
e cr
edito
r to
be
nece
ssar
y, u
nder
app
licab
le st
ate
law
to m
ake
the
prop
erty
bei
ng
offe
red
as se
curit
y av
aila
ble
to sa
tisfy
the
debt
in th
e ev
ent o
f de
faul
t (fo
r exa
mpl
e, a
n in
stru
men
t to
crea
te a
val
id li
en, p
ass
clea
r titl
e, w
aive
inch
oate
righ
ts, o
r ass
ign
earn
ings
).(1
2 C
FR10
02.7
(d)(
4))
[Clic
k&ty
pe]
35.
Doe
s the
cre
dito
r ref
rain
from
rout
inel
y re
quiri
ng a
non
-app
lican
t joi
nt
owne
r to
sign
an
inst
rum
ent (
such
as a
qui
tcla
imde
ed) t
hat w
ould
re
sult
in th
e fo
rfei
ture
of t
he jo
int o
wne
r’s i
nter
est i
n th
e pr
oper
ty?
(Com
men
t100
2.7(
d)(2
)-1(ii
)(C
))
[Clic
k&ty
pe]
36.
In th
ose
situ
atio
ns w
hen
unde
r the
cre
dito
r’s s
tand
ards
of
cred
itwor
thin
ess,
the
pers
onal
liab
ility
of a
n ad
ditio
nal p
arty
is
nece
ssar
y to
supp
ort t
he c
redi
t req
uest
ed, d
oes t
he c
redi
tor a
llow
the
appl
ican
t to
have
eith
er h
is o
r her
spou
se o
r som
eone
oth
er th
an h
is o
r he
r spo
use
to se
rve
as th
e ad
ditio
nal p
arty
? (1
2 C
FR 1
002.
7(d)
(5))
[Clic
k&ty
pe]
37.
If a
borr
ower
’s c
redi
twor
thin
ess i
s ree
valu
ated
whe
n a
cred
it ob
ligat
ion
is re
new
ed, d
oes t
he c
redi
tor d
eter
min
e w
heth
er a
n ad
ditio
nal p
arty
is st
ill w
arra
nted
and
, if n
ot w
arra
nted
, rel
ease
the
addi
tiona
l par
ty?
(Com
men
t 100
2.7(
d)(5
)-3)
[Clic
k&ty
pe]
38.
Doe
s the
cre
dito
r not
refu
se to
ext
end
cred
it an
d no
t ter
min
ate
an
acco
unt b
ecau
se c
redi
t life
, hea
lth, a
ccid
ent,
or d
isab
ility
insu
ranc
e is
no
t ava
ilabl
e be
caus
e of
the
appl
ican
t’s a
ge?
(12
CFR
100
2.7(
e))
[Clic
k&ty
pe]
Spec
ial-P
urpo
se C
redi
t Pro
gram
sIn
quire
as t
o w
heth
er th
e cr
edito
roffe
rsa
spec
ial-p
urpo
se c
redi
t pro
gram
.
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
16
Yes
No
Bas
is o
f Con
clus
ion
39.
To th
e ex
tent
an
issu
e ar
ose
rega
rdin
g a
spec
ial-p
urpo
se c
redi
t pr
ogra
m,w
ere
the
Exam
iner
-in-C
harg
e an
dH
eadq
uarte
rsco
nsul
ted?
In th
e B
asis
of C
oncl
usio
n se
ctio
n, d
escr
ibe
the
issu
e, th
e of
fice
(and
pe
rson
) con
sulte
d at
Hea
dqua
rters
, and
the
reso
lutio
n.If
not
appl
icab
le, p
leas
e no
te in
the
Bas
is o
f Con
clus
ion.
[Clic
k&ty
pe]
Not
ifica
tions
Obt
ain
and
revi
ew p
olic
ies a
nd p
roce
dure
s, tra
inin
g m
ater
ials,
a sa
mpl
e of
lo
an fi
les,
and
audi
ts pe
rtain
ing
to n
otifi
catio
ns (i
nclu
ding
, but
not
lim
ited
to
thos
e th
at p
erta
in to
pre
qual
ifica
tion
and
prea
ppro
val p
roce
sses
, inc
ompl
ete
appl
icat
ions
, cou
nter
offe
rs, l
oan
mod
ifica
tions
, and
thos
e th
at a
pply
whe
n th
ere
are
third
par
ties o
r mul
tiple
cre
dito
rs).
Cond
uct l
oan
offic
er in
terv
iews
to
det
erm
ine
whet
her t
hey
show
an u
nder
stand
ing
of th
e re
gula
tory
re
quire
men
ts an
d th
at p
olic
ies a
nd p
roce
dure
s are
con
siste
ntly
app
lied.
Con
sum
er C
redi
t40
.W
ith re
spec
t to
cons
umer
cre
dit,
the
cred
itora
ppro
pria
tely
not
ified
ap
plic
ants
as f
ollo
ws:
a.W
ithin
30
days
afte
r rec
eivi
ng a
com
plet
ed a
pplic
atio
n, th
e cr
edito
r not
ified
app
lican
ts c
once
rnin
g th
e cr
edito
r’s a
ppro
val o
f, co
unte
roff
er to
, or a
dver
se a
ctio
n on
the
appl
icat
ion
(unl
esst
he
parti
es c
onte
mpl
ated
that
the
appl
ican
t wou
ld in
quire
abo
ut th
e st
atus
, the
app
licat
ion
was
app
rove
d, a
nd th
e ap
plic
ant f
aile
d to
in
quire
with
in 3
0 da
ys a
fter a
pply
ing,
in w
hich
cas
e th
e cr
edito
r m
ay tr
eat t
he a
pplic
atio
n as
with
draw
n).(
12 C
FR 1
002.
9(a)
(1)(
i)an
d10
02.9
(e))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
17
Yes
No
Bas
is o
f Con
clus
ion
b.W
ithin
30
days
afte
r tak
ing
adve
rse
actio
n on
an
inco
mpl
ete
appl
icat
ion,
the
cred
itor n
otifi
ed a
pplic
ants
of t
he a
dver
se a
ctio
n in
w
ritin
g (u
nles
swrit
ten
notic
e of
inco
mpl
eten
ess i
s pro
vide
d w
ithin
30
day
s of r
ecei
pt o
f the
inco
mpl
ete
appl
icat
ion,
spec
ifyin
g th
e in
form
atio
n ne
eded
, des
igna
ting
a re
ason
able
per
iod
of ti
me
for
the
appl
ican
t to
prov
ide
the
info
rmat
ion,
and
info
rmin
g th
e ap
plic
ant t
hat f
ailu
re to
pro
vide
the
info
rmat
ion
requ
este
d w
ill
resu
lt in
no
furth
er c
onsi
dera
tion
bein
g gi
ven
to th
e ap
plic
atio
n),
(12
CFR
100
2.9(
a)(1
)(ii)
and
1002
.9(c
))
[Clic
k&ty
pe]
c.W
ithin
30
days
afte
r tak
ing
adve
rse
actio
n on
an
exis
ting
acco
unt,
the
cred
itor n
otifi
ed a
pplic
ants
of t
he a
dver
se a
ctio
n in
writ
ing;
(12
CFR
100
2.9(
a)(1
)(iii
))
[Clic
k&ty
pe]
d.W
ithin
90
days
afte
r not
ifyin
g th
e ap
plic
ant o
f a c
ount
erof
fer,
if th
e ap
plic
ant d
oes n
ot e
xpre
ssly
acc
ept o
r use
the
cred
it of
fere
d,
the
cred
itor n
otifi
ed a
pplic
ants
of t
he a
dver
se a
ctio
n ta
ken
in
writ
ing
(unl
ess t
he c
ount
erof
fer w
as a
ccom
pani
ed b
y th
e no
tice
of
adve
rse
actio
n on
the
cred
it te
rms o
rigin
ally
soug
ht) (
12 C
FR
1002
.9(a
)(1)
(iv),
Com
men
t 100
2.9(
a)(1
)-6)
[Clic
k&ty
pe]
41.
With
resp
ect t
oco
nsum
er c
redi
t, th
e cr
edito
r’s n
otifi
catio
ns g
iven
to
an a
pplic
ant w
hen
an a
dver
se a
ctio
n is
take
n ar
e in
writ
ing,
cap
able
of
bein
g re
tain
ed, a
nd c
onta
in a
ll of
the
follo
win
g:
[Clic
k&ty
pe]
a.A
stat
emen
t of t
he a
ctio
n ta
ken;
[C
lick&
type
]b.
The
nam
e an
d ad
dres
s of t
he c
redi
tor;
[Clic
k&ty
pe]
c.A
stat
emen
t of t
he p
rovi
sion
s of S
ectio
n70
1(a)
of t
he E
CO
A;7
[Clic
k&ty
pe]
7Th
is st
atem
ent m
ust b
e su
bsta
ntia
lly si
mila
r to
the
follo
win
g: “
The
fede
ral E
qual
Cre
dit O
ppor
tuni
ty A
ct p
rohi
bits
cre
dito
rs fr
om d
iscr
imin
atin
g ag
ains
t cre
dit a
pplic
ants
on
the
basi
s of r
ace,
col
or, r
elig
ion,
nat
iona
l orig
in, s
ex, m
arita
l sta
tus,
age
(pro
vide
d th
e ap
plic
ant h
as th
e ca
paci
ty to
ent
er in
to a
bin
ding
con
tract
); be
caus
e al
l or p
art o
f the
app
lican
t’s
inco
me
deriv
es fr
om a
ny p
ublic
ass
ista
nce
prog
ram
; or b
ecau
se th
e ap
plic
ant h
as in
goo
d fa
ith e
xerc
ised
any
righ
t und
er th
e C
onsu
mer
Cre
dit P
rote
ctio
n A
ct. T
he fe
dera
l age
ncy
that
adm
inis
ters
com
plia
nce
with
this
law
con
cern
ing
this
cre
dito
r is [
nam
e an
d ad
dres
s as s
peci
fied
by th
e ap
prop
riate
age
ncy
liste
d in
app
endi
x A
of t
his r
egul
atio
n].”
(12
CFR
10
02.9
(b)(1
))
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
18
Yes
No
Bas
is o
f Con
clus
ion
d.Th
e na
me
and
addr
ess o
f the
fede
ral a
genc
y th
at a
dmin
iste
rs
com
plia
nce
with
resp
ect t
o th
e cr
edito
r; an
d[C
lick&
type
]
e.Ei
ther
: i.
A st
atem
ent o
f spe
cific
reas
ons f
or th
e ac
tion
take
n th
at is
sp
ecifi
c an
d in
dica
tes t
he p
rinci
pal r
easo
n(s)
for t
he a
dver
se
actio
n (S
tate
men
ts th
at th
e ad
vers
e ac
tion
was
bas
ed o
n th
e cr
edito
r’s i
nter
nal s
tand
ards
or p
olic
ies o
r tha
t the
app
lican
t, jo
int a
pplic
ant,
or si
mila
r par
ty fa
iled
to a
chie
ve a
qua
lifyi
ng
scor
e on
the
cred
itor’
s cre
dit s
corin
g sy
stem
are
insu
ffic
ient
); or
ii.
A d
iscl
osur
e (w
hich
con
tain
s the
nam
e, a
ddre
ss, a
nd te
leph
one
num
ber o
f the
per
son
or o
ffic
e fr
om w
hich
the
stat
emen
t of
reas
ons c
an b
e ob
tain
ed) o
f the
app
lican
t’s ri
ght t
o a
state
men
t of
spec
ific
reas
ons w
ithin
30
days
, if t
he st
atem
ent i
s re
ques
ted
with
in 6
0 da
ys o
f the
cre
dito
r’s n
otifi
catio
n (a
nd if
, th
e cr
edito
r cho
oses
to p
rovi
de th
e re
ason
s ora
lly, t
he c
redi
tor
shal
l als
o di
sclo
se th
e ap
plic
ant’s
righ
t to
have
them
co
nfirm
ed in
writ
ing
with
in 3
0 da
ys o
f rec
eivi
ng th
e ap
plic
ant’s
writ
ten
requ
est f
or c
onfir
mat
ion)
. (1
2 C
FR
1002
.4(d
)(1)
and
1002
.9(a
)(2)
, (b)
(1),
(b)(
2))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
19
Yes
No
Bas
is o
f Con
clus
ion
Smal
l Bus
ines
s Cre
dit
42.
Exce
pt fo
r tra
nsac
tions
con
duct
ed e
ntire
ly b
y ph
one,
in c
onne
ctio
n w
ith b
usin
ess c
redi
t for
bus
ines
ses w
ith g
ross
rev
enue
s of $
1 m
illio
n or
less
in th
e pr
eced
ing
fisca
l yea
r or t
o st
art a
new
bus
ines
s(C
omm
ent 1
002.
9(a)
(3)-1
) (ot
her t
han
an e
xten
sion
of t
rade
cre
dit,
cred
it in
cide
nt to
a fa
ctor
ing
agre
emen
t,or
oth
er si
mila
r typ
es o
f bu
sine
ss c
redi
t):a.
With
in 3
0 da
ys a
fter r
ecei
ving
a c
ompl
eted
app
licat
ion,
the
cred
itor n
otifi
ed a
pplic
ants
con
cern
ing
the
cred
itor’
s app
rova
l of,
coun
tero
ffer
to, o
r adv
erse
act
ion
on th
e ap
plic
atio
nor
ally
or i
n w
ritin
g (u
nles
sthe
par
ties c
onte
mpl
ated
that
the
appl
ican
t wou
ld
inqu
ire a
bout
the
stat
us, t
he a
pplic
atio
n w
as a
ppro
ved,
and
the
appl
ican
t fai
led
to in
quire
with
in 3
0 da
ys a
fter a
pply
ing,
in w
hich
ca
se th
e cr
edito
r may
trea
t the
app
licat
ion
as w
ithdr
awn)
.(12
CFR
10
02.9
(a)(
1)(i)
, 100
2.9(
e), a
nd 1
002.
9(a)
(3)(
i)(A
))
[Clic
k&ty
pe]
b.W
ithin
30
days
afte
r tak
ing
adve
rse
actio
n on
an
inco
mpl
ete
appl
icat
ion,
the
cred
itor n
otifi
ed a
pplic
ants
of t
he a
dver
se a
ctio
n or
ally
or i
n w
ritin
g (u
nles
s writ
ten
notic
e of
inco
mpl
eten
ess i
s pr
ovid
ed w
ithin
30
days
of r
ecei
pt o
f the
inco
mpl
ete
appl
icat
ion,
sp
ecify
ing
the
info
rmat
ion
need
ed, d
esig
natin
g a
reas
onab
le p
erio
d of
tim
efo
r the
app
lican
t to
prov
ide
the
info
rmat
ion,
and
info
rmin
g th
e ap
plic
ant t
hat f
ailu
re to
pro
vide
the
info
rmat
ion
requ
este
d w
ill
resu
lt in
no
furth
er c
onsi
dera
tion
bein
g gi
ven
to th
e ap
plic
atio
n),
(12
CFR
100
2.9(
a)(1
)(ii)
, 100
2.9(
c)),
and
1002
.9(a
)(3)
(i)(A
))
[Clic
k&ty
pe]
c.W
ithin
30
days
afte
r tak
ing
adve
rse
actio
n on
an
exis
ting
acco
unt,
the
cred
itor n
otifi
ed a
pplic
ants
of t
he a
dver
se a
ctio
n or
ally
or i
n w
ritin
g; (1
2 C
FR 1
002.
9(a)
(1)(
iii)a
nd10
02.9
(a)(
3)(i)
(A))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
20
Yes
No
Bas
is o
f Con
clus
ion
d.W
ithin
90
days
afte
r not
ifyin
g th
e ap
plic
ant o
f a c
ount
erof
fer,
if th
e ap
plic
ant d
oes n
ot e
xpre
ssly
acc
ept o
r use
the
cred
it of
fere
d,
the
cred
itor n
otifi
ed a
pplic
ants
of t
he a
dver
se a
ctio
n or
ally
or i
n w
ritin
g (u
nles
s the
cou
nter
offe
r was
acc
ompa
nied
by
the
notic
e of
ad
vers
e ac
tion
on th
e cr
edit
term
s orig
inal
ly so
ught
) (12
CFR
10
02.9
(a)(
1)(iv
), C
omm
ent 1
002.
9(a)
(1)-6
,and
12
CFR
10
02.9
(a)(
3)(i)
(A))
[Clic
k&ty
pe]
43.
Exce
pt fo
r tra
nsac
tions
con
duct
ed e
ntire
ly b
y ph
one,
in c
onne
ctio
n w
ith b
usin
ess c
redi
t for
bus
ines
ses w
ith g
ross
reve
nues
of $
1 m
illio
n or
less
in th
e pr
eced
ing
fisca
l yea
r or t
o st
art a
new
bus
ines
s (C
omm
ent 1
002.
9(a)
(3)-1
) (ot
her t
han
an e
xten
sion
of t
rade
cre
dit,
cred
it in
cide
nt to
a fa
ctor
ing
agre
emen
t,or
oth
er si
mila
r typ
es o
f bu
sine
ss c
redi
t), th
e cr
edito
r’s a
dver
se a
ctio
n no
tices
con
tain
ed (o
rally
or
in w
ritin
g):
a.A
stat
emen
t of t
he a
ctio
n ta
ken;
[C
lick&
type
]b.
The
nam
e an
d ad
dres
s of t
he c
redi
tor;
[Clic
k&ty
pe]
c.A
stat
emen
t of t
he p
rovi
sion
s of S
ectio
n70
1(a)
of t
he E
CO
A;8
[Clic
k&ty
pe]
d.Th
e na
me
and
addr
ess o
f the
fede
ral a
genc
y th
at a
dmin
iste
rs
com
plia
nce
with
resp
ect t
o th
e cr
edito
r (na
mel
y, C
FPB
); an
d [C
lick&
type
]
8Se
esu
pra
note
7.
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
21
Yes
No
Bas
is o
f Con
clus
ion
e.Ei
ther
:i.
A st
atem
ent o
f spe
cific
reas
ons f
or th
e ac
tion
take
n (th
at is
sp
ecifi
c an
d in
dica
tes t
he p
rinci
pal r
easo
n(s)
for t
he a
dver
se
actio
n); o
rii.
Unl
ess p
rovi
ded
at th
e tim
e of
app
licat
ion,
a w
ritte
n, c
apab
le
of b
eing
reta
ined
, dis
clos
ure
(whi
ch c
onta
ins t
he n
ame,
ad
dres
s, te
leph
one
num
ber o
f the
per
son
or o
ffic
e fr
om w
hich
th
e st
atem
ent o
f rea
sons
can
be o
btai
ned,
and
, if g
iven
at t
he
time
of a
pplic
atio
n, a
stat
emen
t of t
he p
rovi
sion
s of
Sect
ion
701(
a) o
f the
EC
OA
9) o
f the
app
lican
t’s ri
ght t
o a
stat
emen
t of s
peci
fic re
ason
s with
in 3
0 da
ys, i
f the
stat
emen
t is
requ
este
d w
ithin
60
days
of t
he c
redi
tor’
snot
ifica
tion
(and
if,
the
cred
itor c
hoos
es to
pro
vide
the
reas
ons o
rally
, the
cr
edito
r sha
ll al
so d
iscl
ose
the
appl
ican
t’s ri
ght t
o ha
ve th
em
conf
irmed
in w
ritin
g w
ithin
30
days
of r
ecei
ving
the
appl
ican
t’s w
ritte
n re
ques
t for
con
firm
atio
n). (
12 C
FR
1002
.9(a
)(2)
, 100
2.9(
a)(3
)(i)(
A),
1002
.9(a
)(3)
(i)(B
), an
d 10
02.9
(b)(
1))
[Clic
k&ty
pe]
44.
With
resp
ect t
oap
plic
atio
ns m
ade
entir
ely
by te
leph
one
in
conn
ectio
n w
ith b
usin
ess c
redi
t for
bus
ines
ses w
ith g
ross
rev
enue
s of
$1
mill
ion
or le
ssin
the
prec
edin
g fis
cal y
ear o
r to
star
t a n
ew
busi
ness
(Com
men
t 100
2.9(
a)(3
)-1) (
othe
r tha
n an
ext
ensi
on o
f tra
de
cred
it, c
redi
t inc
iden
t to
a fa
ctor
ing
agre
emen
t, or
oth
er si
mila
r typ
es
of b
usin
ess c
redi
t), th
e cr
edito
r at l
east
mad
e an
ora
l sta
tem
ent o
f the
ac
tion
take
n an
d of
the
appl
ican
t’s ri
ght t
o a
stat
emen
t of r
easo
ns fo
r ad
vers
e ac
tion.
(12
CFR
100
2.9(
a)(3
)(i)(
C))
[Clic
k&ty
pe]
9Se
esu
pra
note
7.
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
22
Yes
No
Bas
is o
f Con
clus
ion
Lar
ge B
usin
ess C
redi
t45
.Fo
r bus
ines
ses w
ith g
ross
rev
enue
s in
exce
ss o
f $1
mill
ion
in th
e pr
eced
ing
fisca
l yea
r, or
for e
xten
sion
s of t
rade
cre
dit,
cred
it in
cide
nt
to a
fact
orin
g ag
reem
ent o
r oth
er si
mila
r typ
es o
f bus
ines
s cre
dit,
did
the
cred
itor a
t lea
st:
a.C
omm
unic
ate
the
notif
icat
ion
of a
ctio
n ta
ken
with
in a
reas
onab
le
time
oral
ly o
r in
writ
ing,
and
b.In
resp
onse
to a
n ap
plic
ant’s
writ
ten
requ
est f
or th
e re
ason
s with
in
60 d
ays o
f the
cre
dito
r’s n
otifi
catio
n, p
rovi
de in
writ
ing
the
reas
ons f
or a
dver
se a
ctio
n an
d a
stat
emen
t of t
he p
rovi
sion
s of
Sect
ion
701(
a) o
f the
EC
OA
10?
(12
CFR
100
2.9(
a)(3
)(ii)
)
[Clic
k&ty
pe]
All
Cre
dit T
rans
actio
ns[C
lick&
type
]46
.W
ithin
30
days
afte
r rec
eivi
ng a
n ap
plic
atio
n th
at is
inco
mpl
ete
re
gard
ing
mat
ters
than
an
appl
ican
t can
com
plet
e, d
oes t
he c
redi
tor (
a)
notif
y th
e ap
plic
ant o
f adv
erse
act
ion
(in th
e m
anne
r app
ropr
iate
for
the
type
of c
redi
t –bu
sine
ss o
r con
sum
er),
or (b
) sen
d a
writ
ten
notic
e to
the
appl
ican
t spe
cify
ing
the
info
rmat
ion
need
ed, d
esig
natin
g a
reas
onab
le p
erio
d of
tim
e fo
r the
app
lican
t to
prov
ide
the
info
rmat
ion,
an
d in
form
ing
the
appl
ican
t tha
t fai
lure
to p
rovi
de th
e in
form
atio
n re
ques
ted
will
resu
lt in
no
furth
er c
onsi
dera
tion
bein
g gi
ven
to th
e ap
plic
atio
n? (
Alth
ough
the
cred
itor m
ay in
form
the
appl
ican
t ora
lly o
f th
e ne
ed fo
r add
ition
al in
form
atio
n, if
the
appl
icat
ion
rem
ains
in
com
plet
e it
mus
t pro
vide
eith
er n
otic
e w
ithin
the
spec
ified
tim
e pe
riod.
)(12
CFR
100
2.9(
c))
[Clic
k&ty
pe]
10Se
esu
pra
note
7.
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
23
Yes
No
Bas
is o
f Con
clus
ion
47.
Whe
n de
clin
ing
a re
ques
t for
a m
odifi
catio
n of
a lo
an, d
oes t
he
cred
itor a
lway
s pro
vide
an
adve
rse
actio
n no
tice
whe
n th
e co
nsum
er is
no
t del
inqu
ent o
r in
defa
ult?
(12
CFR
100
2.9(
a)(1
); se
e Fe
dera
l R
eser
ve B
oard
Con
sum
er A
ffai
rs L
ette
r 09-
13 (D
ecem
ber 4
, 200
9)
( http
://w
ww
.fede
ralre
serv
e.go
v/bo
ardd
ocs/
cale
tters
/200
9/09
13/c
altr0
913
.htm
).
[Clic
k&ty
pe]
48.
Whe
n an
app
licat
ion
invo
lves
mul
tiple
app
lican
ts, d
oes t
he c
redi
tor
prov
ide
notif
icat
ion
of a
ctio
n to
the
prim
ary
appl
ican
t, w
hen
one
is
read
ily a
ppar
ent?
(12
CFR
100
2.9(
f))
[Clic
k&ty
pe]
49.
Whe
n an
app
licat
ion
is m
ade
on b
ehal
f of a
n ap
plic
ant b
y a
third
par
ty
to m
ultip
le c
redi
tors
, inc
ludi
ng th
e cr
edito
r, an
d no
cre
dit i
s off
ered
or
if th
e ap
plic
ant d
oes n
ot e
xpre
ssly
acc
ept o
r use
the
cred
it of
fere
d,
does
the
cred
itor p
rovi
de th
e ap
prop
riate
adv
erse
act
ion
notic
e ei
ther
di
rect
ly o
r thr
ough
the
third
par
ty (d
iscl
osin
g th
e id
entif
y of
eac
h cr
edito
r on
who
se b
ehal
f the
not
ice
is g
iven
)? (1
2 C
FR 1
002.
9(g)
)
[Clic
k&ty
pe]
Des
igna
tion
of A
ccou
nts
Obt
ain
and
revi
ew p
olic
ies a
nd p
roce
dure
s, tr
aini
ng m
ater
ials
,and
aud
its
pert
aini
ng to
the
desi
gnat
ion
of a
ccou
nts o
n fu
rnish
ing
them
to c
redi
t re
porti
ng a
genc
ies,
as w
ell a
s asa
mpl
e of
info
rmat
ion
repo
rted
to th
e cr
edit
repo
rting
age
ncie
s.50
.To
the
exte
nt th
e cr
edito
r fur
nish
es c
onsu
mer
cre
dit i
nfor
mat
ion,
doe
s it
desi
gnat
e an
y ne
w a
ccou
nt to
refle
ct th
e pa
rtici
patio
n of
bot
h sp
ouse
s if t
he a
pplic
ant’s
spou
se is
per
mitt
ed to
use
or i
s con
tract
ually
lia
ble
on th
e ac
coun
t (ot
her t
han
as a
gua
rant
or, s
uret
y, e
ndor
ser,
or
sim
ilar p
arty
) (12
CFR
100
2.10
(a),
Com
men
t 100
2.10
-1)
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
24
Yes
No
Bas
is o
f Con
clus
ion
51.
To th
e ex
tent
the
cred
itor f
urni
shes
con
sum
er c
redi
t inf
orm
atio
n, d
oes
it de
sign
ate
any
exis
ting
acco
unt t
o re
flect
the
parti
cipa
tion
of b
oth
spou
ses i
f the
app
lican
t’s sp
ouse
is p
erm
itted
to u
se o
r is c
ontra
ctua
lly
liabl
e on
the
acco
unt (
othe
r tha
n as
a g
uara
ntor
, sur
ety,
end
orse
r, or
si
mila
r par
ty) w
ithin
90
days
afte
r rec
eivi
ng a
writ
ten
requ
est t
o do
so
from
one
of t
he sp
ouse
s? (1
2 C
FR 1
002.
10(a
), C
omm
ent 1
002.
10-1
)
[Clic
k&ty
pe]
52.
To th
e ex
tent
the
cred
itor f
urni
shes
con
sum
er c
redi
t inf
orm
atio
n to
a
cons
umer
repo
rting
age
ncy
conc
erni
ng a
ccou
nts d
esig
nate
d to
refle
ct
the
parti
cipa
tion
of b
oth
spou
ses,
does
the
cred
itor f
urni
sh th
e in
form
atio
n in
a m
anne
r tha
t ena
bles
the
cons
umer
repo
rting
age
ncy
to
prov
ide
acce
ss to
the
info
rmat
ion
in th
e na
me
of e
ach
spou
se?
(12
CFR
100
2.10
(b),
Com
men
t 100
2.10
-1)
[Clic
k&ty
pe]
53.
To th
e ex
tent
the
cred
itor f
urni
shes
con
sum
er c
redi
t inf
orm
atio
n in
re
spon
se to
inqu
iries
abo
ut a
ccou
nts d
esig
nate
d to
refle
ct th
e pa
rtici
patio
n of
bot
h sp
ouse
s, do
es th
e cr
edito
r fur
nish
the
info
rmat
ion
in th
e na
me
of th
e sp
ouse
abo
ut w
hom
the
info
rmat
ion
is re
ques
ted?
(1
2 C
FR 1
002.
10(c
), C
omm
ent 1
002.
10-1
)
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
25
Yes
No
Bas
is o
f Con
clus
ion
Rec
ord
Ret
entio
nO
btai
n an
d re
view
pol
icie
s and
pro
cedu
res,
trai
ning
mat
eria
ls, a
udits
, a
sam
ple
of lo
an fi
les,
rele
vant
thir
d-pa
rty
cont
ract
s,an
d ot
her r
ecor
ds
requ
ired
to b
e re
tain
ed (e
.g.,
info
rmat
ion
rela
ting
to p
resc
reen
ed o
ffers
of
cred
it an
d se
lf-te
sts)t
hat p
erta
in to
reco
rd re
tent
ion
(incl
udin
g bu
t not
lim
ited
to re
cord
rete
ntio
n sc
hedu
les,
rete
ntio
n of
doc
umen
ts re
latin
g to
pr
escr
eene
dof
fers
of c
redi
t, an
d re
tent
ion
of d
ocum
ents
rela
ting
to a
ny se
lf-te
sts).
Inqu
ire in
to w
heth
er th
ere
is an
y en
forc
emen
t act
ion
or in
vesti
gatio
n in
volv
ing
the
cred
itor.
54.
Doe
s the
cre
dito
r ret
ain
for 2
5 m
onth
s (12
mon
ths f
or b
usin
ess c
redi
t re
gard
ing
busi
ness
es w
ith g
ross
reve
nues
of $
1 m
illio
n or
less
in th
e pr
evio
us fi
scal
yea
r, ex
cept
an
exte
nsio
n of
trad
e cr
edit,
cre
dit i
ncid
ent
to a
fact
orin
g ag
reem
ent,
or o
ther
sim
ilar t
ypes
of b
usin
ess c
redi
t) af
ter
the
date
that
the
cred
itor n
otifi
es a
n ap
plic
ant o
f act
ion
take
n or
of
inco
mpl
eten
ess,
an o
rigin
al o
r cop
y of
the
follo
win
g:
[Clic
k&ty
pe]
a.Th
e ap
plic
atio
n an
d an
y ot
her w
ritte
n or
reco
rded
info
rmat
ion
used
in e
valu
atin
g th
e ap
plic
atio
n th
at is
not
retu
rned
to th
e ap
plic
ant a
t the
app
lican
t’s re
ques
t? (1
2 C
FR 1
002.
12(b
)(1)
(i))
[Clic
k&ty
pe]
b.A
ny in
form
atio
n re
quire
d to
be
obta
ined
con
cern
ing
char
acte
ristic
s of
the
appl
ican
t to
mon
itor c
ompl
ianc
e w
ith th
e EC
OA
and
R
egul
atio
n B
or o
ther
sim
ilar l
aw, s
uch
as th
e H
ome
Mor
tgag
e D
iscl
osur
e A
ct o
r Hom
e A
ffor
dabl
e M
odifi
catio
n Pr
ogra
m?
(12
CFR
100
2.12
(b)(
1)(i)
)
[Clic
k&ty
pe]
c.A
cop
y of
the
notif
icat
ion
of a
ctio
n ta
ken,
if w
ritte
n, o
r any
no
tatio
n or
mem
oran
dum
by
the
cred
itor,
if m
ade
oral
ly?
(12
CFR
10
02.1
2(b)
(1)(
ii)(A
))
[Clic
k&ty
pe]
d.A
stat
emen
t of s
peci
fic re
ason
s for
adv
erse
act
ion,
if w
ritte
n, o
r an
y no
tatio
n or
mem
oran
dum
by
the
cred
itor,
if m
ade
oral
ly?
(12
CFR
100
2.12
(b)(
1)(ii
)(B
))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
26
Yes
No
Bas
is o
f Con
clus
ion
e.A
ny w
ritte
n st
atem
ent s
ubm
itted
by
the
appl
ican
t alle
ging
a
viol
atio
n of
the
ECO
A o
r Reg
ulat
ion
B?
(12
CFR
10
02.1
2(b)
(1)(
iii))
[Clic
k&ty
pe]
55.
Doe
s the
cre
dito
rret
ain
for 2
5 m
onth
s (12
mon
ths f
or b
usin
ess c
redi
t re
gard
ing
busi
ness
es w
ith g
ross
reve
nues
of $
1 m
illio
n or
less
in th
e pr
evio
us fi
scal
yea
r, ex
cept
an
exte
nsio
n of
trad
e cr
edit,
cre
dit i
ncid
ent
to a
fact
orin
g ag
reem
ent,
or o
ther
sim
ilar t
ypes
of b
usin
ess c
redi
t) af
ter
the
date
that
the
cred
itorn
otifi
es a
n ap
plic
ant o
f adv
erse
act
ion
rega
rdin
g an
exi
stin
g ac
coun
t,an
orig
inal
or c
opy
of th
e fo
llow
ing:
a.
Any
writ
ten
or re
cord
ed in
form
atio
n co
ncer
ning
the
adve
rse
actio
n? (1
2 C
FR 1
002.
12(b
)(2)
(i))
[Clic
k&ty
pe]
b.A
ny w
ritte
n st
atem
ent s
ubm
itted
by
the
appl
ican
t alle
ging
a
viol
atio
n of
the
ECO
A o
r Reg
ulat
ion
B?
(12
CFR
10
02.1
2(b)
(2)(
ii))
[Clic
k&ty
pe]
56.
Doe
s the
cre
dito
r ret
ain
for 2
5 m
onth
s (12
mon
ths f
or b
usin
ess c
redi
t re
gard
ing
busi
ness
es w
ith g
ross
reve
nues
of $
1 m
illio
n or
less
in th
e pr
evio
us fi
scal
yea
r, ex
cept
an
exte
nsio
n of
trad
e cr
edit,
cre
dit i
ncid
ent
to a
fact
orin
g ag
reem
ent,
or o
ther
sim
ilar t
ypes
of b
usin
ess c
redi
t) af
ter
the
date
the
cred
itor r
ecei
ves a
n ap
plic
atio
n fo
r whi
ch 1
002.
9’s
notif
icat
ion
requ
irem
ents
do
not a
pply
(e.g
., w
hen
an a
pplic
atio
n is
ex
pres
sly
with
draw
n, o
r an
appl
icat
ion
is su
bmitt
ed to
mor
e th
an o
ne
cred
itor o
n be
half
of th
e ap
plic
ant,
and
the
appl
icat
ion
is a
ppro
ved
by
one
of th
e ot
her c
redi
tors
) all
writ
ten
or re
cord
ed in
form
atio
n in
its
poss
essi
on c
once
rnin
g th
e ap
plic
ant,
incl
udin
g an
y no
tatio
nof
act
ion
take
n? (1
2 C
FR 1
002.
12(b
)(3)
, Com
men
t 100
2.12
(b)(
3)-1
)
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
27
Yes
No
Bas
is o
f Con
clus
ion
57.
If th
e cr
edito
rhas
act
ual n
otic
e th
at it
is u
nder
inve
stig
atio
n or
is
subj
ect t
o an
enf
orce
men
t pro
ceed
ing
for a
n al
lege
d vi
olat
ion
of th
e EC
OA
or R
egul
atio
n B
by
the
Atto
rney
Gen
eral
of t
he U
nite
d St
ates
or
by
the
CFP
B o
r oth
er e
nfor
cem
ent a
genc
y ch
arge
d w
ith m
onito
ring
the
cred
itor’
s com
plia
nce
with
the
ECO
A a
nd R
egul
atio
n B
, or i
f it h
as
been
serv
ed w
ith n
otic
e of
an
actio
n fil
ed p
ursu
ant t
o Se
ctio
n70
6 of
th
e EC
OA
, did
the
cred
itor r
etai
n th
e fo
rego
ing
info
rmat
ion
iden
tifie
d in
Che
cklis
t Ite
ms 5
4–56
until
fina
l dis
posi
tion
of th
e m
atte
r (un
less
an
earli
er ti
me
is a
llow
ed b
y or
der o
f the
age
ncy
or c
ourt)
. (1
2 C
FR
1002
.12(
b)(4
))
[Clic
k&ty
pe]
58.
For b
usin
ess c
redi
t fro
m b
usin
esse
s with
gro
ss re
venu
es o
f mor
e th
an
$1 m
illio
n in
the
prev
ious
fisc
al y
ear,
or a
n ex
tens
ion
of tr
ade
cred
it,
cred
it in
cide
nt to
a fa
ctor
ing
agre
emen
t,or
oth
er si
mila
r typ
es o
f bu
sine
ss c
redi
t, do
es th
e cr
edito
r ret
ain
reco
rds f
or a
t lea
st 6
0 da
ys
afte
r not
ifyin
g th
e ap
plic
ant o
f the
act
ion
take
n, o
r for
12
mon
ths i
f the
ap
plic
ant r
eque
sts i
n w
ritin
g du
ring
the
60-d
ay ti
me
perio
d th
e re
ason
s fo
r adv
erse
actio
n or
that
reco
rds b
e re
tain
ed?
(12
CFR
100
2.12
(b)(
5))
[Clic
k&ty
pe]
59.
If th
e cr
edito
rcon
duct
s a se
lf-te
st p
ursu
ant t
o 12
CFR
1002
.15:
a.D
oes t
he c
redi
tor r
etai
n fo
r 25
mon
ths a
fter t
he se
lf-te
st is
co
mpl
eted
, all
writ
ten
or re
cord
ed in
form
atio
n ab
out t
he se
lf-te
st?
[Clic
k&ty
pe]
b.If
the
cred
itor h
as a
ctua
l not
ice
that
it is
und
er in
vest
igat
ion
or is
su
bjec
t to
an e
nfor
cem
ent p
roce
edin
g fo
r an
alle
ged
viol
atio
n, o
r if
it ha
s bee
n se
rved
with
not
ice
of a
civ
il ac
tion,
doe
s the
cre
dito
r re
tain
the
info
rmat
ion
until
fina
l dis
posi
tion
of th
e m
atte
r (un
less
an
ear
lier t
ime
is a
llow
ed b
y th
e ap
prop
riate
age
ncy
or c
ourt
orde
r)?
(12
CFR
100
2.12
(b)(
6))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
28
Yes
No
Bas
is o
f Con
clus
ion
60.
For p
resc
reen
ed so
licita
tions
, doe
s the
cre
dito
r ret
ain
for 2
5 m
onth
s (1
2 m
onth
s for
bus
ines
s cre
dit e
xcep
t reg
ardi
ng b
usin
esse
s with
gro
ss
reve
nues
of m
ore
than
$1
mill
ion
in th
e pr
evio
us fi
scal
yea
r, or
an
exte
nsio
n of
trad
e cr
edit,
cre
dit i
ncid
ent t
o a
fact
orin
g ag
reem
ent,
or
othe
r sim
ilar t
ypes
of b
usin
ess c
redi
t) af
ter t
he d
ate
on w
hich
an
offe
r of
cre
dit w
as m
ade
to p
oten
tial c
usto
mer
s: (a
) the
text
of a
ny
pres
cree
ned
solic
itatio
n; (b
) the
list
of c
riter
ia th
e cr
edito
r use
d bo
th to
de
term
ine
the
pote
ntia
l rec
ipie
nts o
f the
par
ticul
ar so
licita
tion
and
to
dete
rmin
e w
ho w
ill a
ctua
lly b
e of
fere
d cr
edit;
and
(c) a
ny
corr
espo
nden
ce re
late
d to
com
plai
nts (
form
al o
r inf
orm
al) a
bout
the
solic
itatio
n? (1
2 C
FR 1
002.
12(b
)(7)
, Com
men
t 100
2.12
(b)(
7)-2
)
[Clic
k&ty
pe]
Info
rmat
ion
for
Mon
itori
ng P
urpo
ses a
s to
App
licat
ions
from
Nat
ural
Pe
rson
s O
btai
n an
d re
view
polic
ies a
nd p
roce
dure
s, tr
aini
ng m
ater
ials
, a sa
mpl
e of
lo
an fi
les,
qual
ity c
ontro
l rep
orts,
and
aud
its p
erta
inin
g to
info
rmat
ion
gath
ered
for m
onito
ring.
Con
duct
loan
offi
cer i
nter
view
s to
dete
rmin
e w
heth
er th
ey sh
ow a
n un
ders
tand
ing
of th
e re
gula
tory
requ
irem
ents
and
that
po
licie
s and
pro
cedu
res a
re c
onsis
tent
ly a
pplie
d.61
.W
ith re
spec
t to
appl
icat
ions
for c
redi
t tha
t are
prim
arily
for t
he
purc
hase
or r
efin
anci
ng o
f dw
ellin
gs (a
s def
ined
in 1
2C
FR10
02.1
3(a)
(2))
that
are
occ
upie
d or
to b
e oc
cupi
ed b
y th
e ap
plic
ant a
s a p
rinci
pal r
esid
ence
whe
re th
e cr
edit
will
be
secu
red
by
the
dwel
ling,
11do
es th
e cr
edito
rreq
uest
(but
not
requ
ire) e
ither
on
the
appl
icat
ion
form
or o
n a
sepa
rate
form
that
refe
rs to
the
appl
icat
ion
(12
CFR
100
2.13
(b))
the
follo
win
g in
form
atio
n re
gard
ing
the
appl
ican
t:
11Ex
amin
ers s
houl
d en
sure
that
the
inst
itutio
n lim
its it
s req
uest
s for
gov
ernm
ent m
onito
ring
info
rmat
ion
unde
r thi
s sec
tion
to o
nly
thes
e lo
ans,
exce
pt a
s per
mitt
ed b
y 12
C
FR10
02.5
(a)&
(b) (
see
Che
cklis
t Ite
m 8
) or a
s req
uire
d by
HM
DA
(rea
chin
g ho
me
purc
hase
loan
s, ho
me
impr
ovem
ent l
oans
, ref
inan
cing
s, an
d (o
ptio
nally
) hom
e eq
uity
line
s of
cred
it m
ade
in w
hole
or i
n pa
rt fo
r the
pur
pose
of h
ome
impr
ovem
ent o
r hom
e pu
rcha
se),
or o
ther
gov
ernm
enta
l pro
gram
or d
irect
ive
such
as t
he H
ome
Affo
rdab
le M
odifi
catio
n Pr
ogra
m (H
AM
P).
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
29
Yes
No
Bas
is o
f Con
clus
ion
a.Et
hnic
ity, u
sing
the
cate
gorie
s “H
ispa
nic
or L
atin
o,”
and
“Not
H
ispa
nic
or L
atin
o”; a
nd ra
ce, u
sing
the
cate
gorie
s “A
mer
ican
In
dian
or A
lask
a N
ativ
e,”
“Asi
an,”
“B
lack
or A
fric
an A
mer
ican
,”
“Nat
ive
Haw
aiia
n or
Oth
er P
acifi
c Is
land
er,”
and
“W
hite
,” a
nd
allo
win
g ap
plic
ants
to se
lect
mor
e th
an o
ne ra
cial
des
igna
tion?
(12
CFR
100
2.13
(a)(
1)(i)
, Com
men
t 100
2.13
(b)-1
)
[Clic
k&ty
pe]
b.Se
x?(1
2 C
FR 1
002.
13(a
)(1)
(ii))
[Clic
k&ty
pe]
c.M
arita
l sta
tus,
usin
g th
e ca
tego
ries m
arrie
d, u
nmar
ried,
and
se
para
ted?
(12
CFR
100
2.13
(a)(
1)(ii
i)[C
lick&
type
]
d.A
ge?
(12
CFR
100
2.13
(a)(
1)(iv
))[C
lick&
type
]62
.If
an a
pplic
ant c
hoos
es n
ot to
pro
vide
the
requ
este
d in
form
atio
n or
any
pa
rt of
it, d
oes t
he c
redi
tor n
ote
that
on
the
mon
itorin
g fo
rm a
nd n
ote
on th
e fo
rm, t
o th
e ex
tent
pos
sibl
e, th
e et
hnic
ity, r
ace,
and
sex
of th
e ap
plic
ant(s
) on
the
basi
s of v
isua
l obs
erva
tion
or su
rnam
e? (1
2 C
FR
1002
.13(
b))
[Clic
k&ty
pe]
63.
If th
e cr
edito
r rec
eive
s app
licat
ions
by
mai
l, te
leph
one,
or e
lect
roni
c m
edia
and
it is
not
evi
dent
on
the
face
of a
n ap
plic
atio
n ho
w it
was
re
ceiv
ed, d
oes t
he c
redi
tor i
ndic
ate
on th
e fo
rm o
r oth
er a
pplic
atio
n re
cord
how
it w
as re
ceiv
ed?
(Com
men
t 100
2.13
(b)-3
(iii))
[Clic
k&ty
pe]
64.
Doe
s the
cre
dito
r inf
orm
app
lican
t(s) (
a) th
at th
e in
form
atio
n re
gard
ing
ethn
icity
, rac
e, se
x, m
arita
l sta
tus,
and
age
is b
eing
requ
este
d by
the
fede
ral g
over
nmen
t for
the
purp
ose
of m
onito
ring
com
plia
nce
with
fe
dera
l sta
tute
s tha
t pro
hibi
t cre
dito
rs fr
om d
iscr
imin
atin
g ag
ains
t ap
plic
ants
on
thos
e ba
ses;
and
(b) t
hat i
f the
app
lican
t(s) c
hoos
es n
ot
to p
rovi
de th
e in
form
atio
n, th
e cr
edito
r is r
equi
red
to n
ote
the
ethn
icity
, rac
e an
d se
x on
the
basi
s of v
isua
l obs
erva
tion
or su
rnam
e?
(12
CFR
100
2.13
(c))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
30
Yes
No
Bas
is o
f Con
clus
ion
App
rais
al R
epor
tsO
btai
n an
d re
view
pol
icie
s and
pro
cedu
res,
trai
ning
mat
eria
ls, a
sam
ple
of
loan
file
s, an
d au
dits
per
tain
ing
to p
rovi
ding
app
rais
al re
ports
. C
ondu
ct
loan
offi
cer i
nter
view
s to
dete
rmin
e w
heth
er th
ey sh
ow a
n un
ders
tand
ing
of
the
regu
lato
ry re
quir
emen
ts an
d th
at p
olic
ies a
nd p
roce
dure
s are
co
nsist
ently
app
lied.
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
31
Yes
No
Bas
is o
f Con
clus
ion
65.
With
resp
ect t
o ap
plic
atio
ns fo
r cre
dit t
o be
secu
red
by a
firs
tlie
n on
a
dwel
ling,
in th
e ab
senc
e of
a w
aive
r, do
es th
e cr
edito
r:a.
Prov
ide
copi
es o
f all
appr
aisa
ls a
nd o
ther
writ
ten
valu
atio
ns
deve
lope
d in
con
nect
ion
with
the
appl
icat
ion
for c
redi
t pro
mpt
ly
upon
com
plet
ion,
or t
hree
bus
ines
s day
s prio
r to
cons
umm
atio
n of
th
e tra
nsac
tion
(for
clo
sed-
end-
cred
it) o
rat,
or b
efor
e, a
ccou
nt
open
ing
(for
ope
n-en
d cr
edit)
, whi
chev
er is
ear
lier,
whe
ther
cre
dit
is g
rant
ed o
r den
ied
or th
e ap
plic
atio
n is
with
draw
n;or
b.If
the
cred
itor o
btai
ns a
wai
ver o
f the
tim
ing
requ
irem
ents
that
is
not o
ther
wis
e pr
ohib
ited
by la
w, d
oes t
he c
redi
tor:
i.O
btai
n th
e w
aive
r at l
east
thre
e bu
sine
ss d
ays p
rior t
o co
nsum
mat
ion
or a
ccou
nt o
peni
ng (e
xcep
t in
the
case
of
wai
vers
per
tain
ing
sole
ly to
the
appl
ican
t’s re
ceip
t of a
co
py o
f an
appr
aisa
l or o
ther
writ
ten
valu
atio
n th
at c
onta
ins
only
cle
rical
cha
nges
from
a p
revi
ous v
ersi
on o
f the
ap
prai
sal o
r oth
er w
ritte
n va
luat
ion
prov
ided
to th
e ap
plic
ant t
hree
or m
ore
busi
ness
day
s prio
r to
cons
umm
atio
n or
acc
ount
ope
ning
);ii.
Prov
ide
the
appl
ican
t a c
opy
of th
e ap
prai
sal o
r oth
er
valu
atio
n at
or b
efor
e co
nsum
mat
ion
or a
ccou
nt o
peni
ng,
whe
re th
e lo
an is
con
sum
mat
ed o
r the
acc
ount
is o
pene
d;
and
iii.
Whe
re th
e lo
an is
not
con
sum
mat
ed o
r the
acc
ount
is n
ot
open
ed, p
rovi
de th
e ap
plic
ant w
ith c
opie
s no
late
r tha
n 30
da
ys a
fter d
eter
min
ing
the
cons
umm
atio
n w
ill n
ot o
ccur
or
the
acco
unt w
ill n
ot b
e op
ened
? (1
2 C
FR 1
002.
14(a
))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
32
Yes
No
Bas
is o
f Con
clus
ion
66.
With
resp
ect t
o ap
plic
atio
ns fo
r cre
dit t
o be
secu
red
by a
firs
t lie
n on
a
dwel
ling,
doe
s the
cre
dito
r ref
rain
from
cha
rgin
gan
app
lican
t for
pr
ovid
ing
requ
ired
copi
es o
f app
rais
als a
nd o
ther
writ
ten
valu
atio
ns?
(A c
redi
tor m
ay c
harg
e a
reas
onab
le fe
e to
reim
burs
e fo
r the
cos
t of
the
appr
aisa
l or o
ther
writ
ten
valu
atio
n un
less
oth
erw
ise
prov
ided
by
the
law
but a
cre
dito
r may
not
char
ge a
n ap
plic
ant f
or p
rovi
ding
a c
opy
of a
ppra
isal
s and
oth
er w
ritte
n va
luat
ions
.) (1
2 C
FR 1
002.
14(a
)(3)
)
[Clic
k&ty
pe]
Dis
clos
ures
Obt
ain
and
revi
ew p
olic
ies a
nd p
roce
dure
s, tr
aini
ng m
ater
ials
, and
a
sam
ple
of lo
an fi
les,
audi
ts re
late
d to
disc
losu
res,
and
disc
losu
res.
67
.W
ith re
spec
t to
appl
icat
ions
for c
redi
t to
be se
cure
d by
a fi
rst l
ien
on a
dw
ellin
g, d
oes t
he c
redi
tor m
ail o
r del
iver
a w
ritte
n no
tice
of th
e ap
plic
ant’s
righ
t to
rece
ive
a co
py o
f all
writ
ten
appr
aisa
ls d
evel
oped
in
con
nect
ion
with
the
appl
icat
ion
no la
ter t
han
the
third
bus
ines
s day
af
ter t
he c
redi
tor r
ecei
ves t
he a
pplic
atio
n fo
r cre
dit;
or if
the
cred
itor
dete
rmin
es th
at c
redi
t was
not
to b
e se
cure
d by
a fi
rst l
ien
on a
dw
ellin
g at
the
time
of a
pplic
atio
n bu
t lat
er d
eter
min
ed th
e cr
edit
will
be
secu
red
by a
firs
t lie
n on
a d
wel
ling,
doe
s the
cre
dito
r mai
l or
deliv
er th
e sa
me
writ
ten
notic
e no
late
r tha
n th
e th
ird b
usin
ess d
ay
afte
r suc
h de
term
inat
ion?
(12
CFR
100
2.14
(a)(
2))
68.
Are
the
cred
itor’
s writ
ten
disc
losu
res t
hat a
re re
quire
d by
Reg
ulat
ion
B
clea
r, co
nspi
cuou
s, an
d ex
cept
for t
hose
requ
ired
by 1
2 C
FR10
02.5
(sel
f-tes
ts) a
nd 1
002.
13(m
onito
ring)
, in
a fo
rm th
e ap
plic
ant c
an
reta
in?
(12
CFR
100
2.4(
d))
[Clic
k&ty
pe]
69.
Are
thos
e di
sclo
sure
s tha
t are
requ
ired
to b
e in
writ
ing
that
are
mad
e in
el
ectro
nic
form
pro
vide
d in
com
plia
nce
with
the
cons
umer
con
sent
and
ot
her a
pplic
able
pro
visio
ns o
f the
Ele
ctro
nic
Sign
atur
es in
Glo
bal a
nd
Nat
iona
l Com
mer
ce (E
-Sig
n) A
ct, w
here
app
licab
le?
(12
CFR
1002
.4(d
)(2))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
33
Yes
No
Bas
is o
f Con
clus
ion
70.
If an
app
lican
t acc
esse
s a c
redi
t app
licat
ion
elec
troni
cally
from
a p
lace
ot
her t
han
the
cred
itor’
s off
ice,
did
the
cred
itor p
rovi
de th
e di
sclo
sure
s in
a ti
mel
y m
anne
r on
or w
ith th
e ap
plic
atio
n, n
amel
y in
ele
ctro
nic
form
(suc
h as
with
the
appl
icat
ions
form
on
its w
ebsi
te)?
(Com
men
t 10
02.4
(d)-2
[Clic
k&ty
pe]
Vol
unta
ry S
elf-
Tes
tsId
entif
y w
heth
er th
e cr
edito
rpur
ports
to c
ondu
ct se
lf-te
sts.
If so
, req
uest
and
revi
ew in
form
atio
n re
quir
ed to
be
mai
ntai
ned
unde
r 12
CFR
1002
.12(
b)(6
), in
clud
ing
but n
ot li
mite
d to
info
rmat
ion
rega
rdin
g its
de
sign
and
exp
ecte
d ou
tput
s, co
rrec
tive
actio
ns, t
he m
etho
dolo
gy u
sed
or th
e sc
ope
of th
e se
lf-te
st, t
he ti
me
perio
d co
vere
d by
the
self-
test,
the
date
s it w
as
cond
ucte
d, a
nd e
ntiti
es to
who
m it
was
disc
lose
d.71
.To
the
exte
nt th
e cr
edito
rcon
duct
svol
unta
ry se
lf-te
sts:
a.Is
the
prog
ram
, pra
ctic
e or
stud
y (1
) des
igne
d an
d us
ed sp
ecifi
cally
to
det
erm
ine
the
exte
nt o
r eff
ectiv
enes
s of t
he c
redi
tor’s
co
mpl
ianc
e w
ith th
e EC
OA
or R
egul
atio
n B
; and
(2) r
esul
ting
in
data
or f
actu
al in
form
atio
n th
at is
not
ava
ilabl
e an
d ca
nnot
be
deriv
ed fr
om lo
an o
r app
licat
ion
files
or o
ther
reco
rds r
elat
ed to
cr
edit
trans
actio
ns; a
nd
[Clic
k&ty
pe]
b.H
as th
e cr
edito
r tak
en o
r is i
t tak
ing
appr
opria
te a
nd ti
mel
y co
rrec
tive
actio
n w
hen
the
self-
test
show
s tha
t it i
s mor
e lik
ely
than
not
that
a v
iola
tion
occu
rred
(eve
n th
ough
no
viol
atio
n ha
s be
en fo
rmal
ly a
djud
icat
ed),
nam
ely
actio
n th
at is
reas
onab
ly li
kely
to
rem
edy
the
caus
e an
d ef
fect
of a
like
ly v
iola
tion
by id
entif
ying
th
e po
licie
s and
pra
ctic
es th
at a
re th
e lik
ely
caus
e of
the
viol
atio
n an
d as
sess
ing
the
exte
nt a
nd sc
ope
of a
ny v
iola
tion?
(12
CFR
10
02.1
5(a)
(2),
(b)(
1), (
c), C
omm
ent 1
002.
15(a
)(2)
-2)
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
34
Yes
No
Bas
is o
f Con
clus
ion
72.
To th
e ex
tent
the
cred
itor i
s cla
imin
g th
at th
e se
lf-te
st pr
ivile
ge a
pplie
s:a.
Is th
e cr
edito
r pro
vidi
ng in
form
atio
n th
at is
not
priv
ilege
d,
incl
udin
g (a
) inf
orm
atio
n ab
out w
heth
er th
e cr
edito
r con
duct
ed a
se
lf-te
st, t
he m
etho
dolo
gy u
sed
or th
e sc
ope
of th
e se
lf-te
st, t
he
time
perio
d co
vere
d by
the
self-
test
, or t
he d
ates
it w
as c
ondu
cted
; (b
) loa
n an
d ap
plic
atio
n fil
es o
r oth
er b
usin
ess r
ecor
ds re
late
d to
cr
edit
trans
actio
ns, a
nd in
form
atio
n de
rived
from
such
file
s and
re
cord
s, ev
en if
the
info
rmat
ion
has b
een
aggr
egat
ed, s
umm
ariz
ed,
or re
orga
nize
d to
faci
litat
e an
alys
is; a
nd (c
) the
cred
itor’
s pro
perty
ap
prai
sal r
epor
ts, m
inut
es o
f loa
n co
mm
ittee
mee
tings
, ana
lysi
s pe
rfor
med
as p
art o
f pro
cess
ing
or u
nder
writ
ing
a cr
edit
appl
icat
ion,
or o
ther
doc
umen
ts re
flect
ing
the
basi
s for
a d
ecis
ion
to a
ppro
ve o
r den
y an
app
licat
ion,
loan
pol
icie
s or p
roce
dure
s, un
derw
ritin
g st
anda
rds,
and
brok
er c
ompe
nsat
ion
reco
rds?
(12
CFR
100
2.15
(b)(
3), C
omm
ents
100
2.15
(b)(
1)(ii
)-2an
d10
02.1
5(b)
(3)(
ii)-1
)
[Clic
k&ty
pe]
b.H
as th
e cr
edito
r not
vol
unta
rily
disc
lose
d an
y pa
rt of
the
repo
rt or
re
sults
, or a
ny o
ther
priv
ilege
d in
form
atio
n, a
s a se
lf-te
st, t
o an
ap
plic
ant,
gove
rnm
ent a
genc
y, o
r the
pub
lic?
(12
CFR
10
02.1
5(d)
(2)(
i))
[Clic
k&ty
pe]
c.H
as th
e cr
edito
r not
dis
clos
ed a
ny p
art o
f the
repo
rt or
resu
lts, o
r an
y ot
her i
nfor
mat
ion
priv
ilege
d as
a se
lf-te
st, a
s a d
efen
se to
ch
arge
s tha
t the
cre
dito
r has
vio
late
d th
e EC
OA
or R
egul
atio
n B
? (1
2 C
FR 1
002.
15(d
)(2)
(ii))
[Clic
k&ty
pe]
d.H
as th
e cr
edito
r pro
duce
d w
ritte
n or
reco
rded
info
rmat
ion
abou
t th
e se
lf-te
st th
at is
requ
ired
to b
e re
tain
ed b
y 12
CFR
1002
.12(
b)(6
)?(1
2 CF
R 1
002.
15(d
)(2)
(iii))
[Clic
k&ty
pe]
CFP
B
Exa
min
atio
n P
roce
dure
sE
CO
A
CFP
BJu
ne 2
013
Pro
cedu
res
35
Yes
No
Bas
is o
f Con
clus
ion
e.A
s app
licab
le, h
as th
e cr
edito
r pro
vide
d th
e se
lf-te
st re
port,
resu
lts,
and
any
othe
r inf
orm
atio
n pr
ivile
ged
unde
r Reg
ulat
ion
B in
ord
er
to d
eter
min
e a
pena
lty o
r rem
edy
for a
vio
latio
n of
the
ECO
A o
r R
egul
atio
n th
at h
as b
een
adju
dica
ted
or a
dmitt
ed?
(12
CFR
10
02.1
5(d)
(3))
[Clic
k&ty
pe]
Exam
iner
’s O
vera
ll S
um
mar
y, R
ecom
men
dat
ion
s, a
nd
Com
men
ts
[Clic
k&ty
pe]
Recommended