FORUM PROFILE

consumer loans non-real estate

Home Forums Equal Credit Opportunity Act/Regulation B consumer loans non-real estate

Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • #2627
    gburton
    Participant

    WE PRINT A GEO CODING SHEET FOR ALL OF OUR LOANS BUT HAVE BEEN TOLD THAT WE CAN NOT KEEP THE GEO SHEET IN THE CONSUMER FILE BECAUSE IT GIVES THE AREA THE CONSUMER LIVES IN BUT IT OKAY TO HAVE IT IN REAL ESTATE FILES. IS THIS A REG B VIOLATION?

    #3053
    dmurray
    Participant

    I’ve never heard of such a situation. I’ve heard of not keeping Photo ID’s in the file, but not the geo-code. You need it too, as you probably use it for CRA purposes.

    #3054
    JGo9
    Participant

    Wouldn’t their address on their application tell you their location as well? I’ve not heard of this either and I don’t think it is any kind of Reg B violation. I would ask for citation from whoever is telling you this.

Viewing 3 posts - 1 through 3 (of 3 total)
  • You must be logged in to reply to this topic.