$299.00 - Online: Regulation B: Equal Credit Opportunity Act - Overview (Individual) - Nonmember
$179.00 - Online: Regulation B: Equal Credit Opportunity Act - Overview (Individual) - Member
The Equal Credit Opportunity Act (ECOA), enacted through Regulation B, prohibits discrimination in credit transactions. The law is designed to protect applicants from unfair or discriminatory lending practices. There is a wide variety of rules housed within Regulation B and in some form or fashion are there to provide transparency, equal access, and protections to the borrowers. This course will provide you with an overview of the prohibited bases under ECOA, types of lending discrimination, application information and evaluation, adverse action, and appraisal notifications. Course length ≈ 25 minutes.
Learning Objectives: • List the prohibited factors under the Equal Credit Opportunity Act• Determine if your banks policies and procedures are unfair and may lead to disciplinary action by the regulators• Know what information you may obtain from an applicant and how you can use that information when evaluating a credit application• Provide proper notice to an applicant when taking adverse action• Comply with the appraisal notice and copy requirements of Regulation B