Description
This course focuses on the information Regulation B permits creditors to consider in evaluating credit applicants without illegally discriminating. It describes loan evaluation systems including judgment systems and credit scoring systems. It also reviews Regulation B limitations on requiring people other than the applicant to sign credit documents, requirements that creditors consider certain information, and limitations on actions creditors may take on open-end credit.
What You’ll Learn
After completing this course, students will be able to:
- Describe the information creditors may and may not use when they evaluate credit applications
- Explain credit evaluation systems and Regulation B’s signature restrictions
- Describe limitations on actions creditors may take on existing open-end credit
