Focuses on information a creditor may consider 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. Discusses the use of loan evaluation systems including judgment systems and credit scoring systems. Centers on the Regulation B limitations on requiring people other than the applicant to sign credit documents, requirements to 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 Regulation Bs signatuù restrictions
- Describe other provisions that require consideration of specific information and prohibit certain actions on existing open-end credit