CFPB Consumer Laws and Regulations ECOA

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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 When originally enacted, ECOA gave the Federal Reserve Board responsibility for prescribing the implementing regulation.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-

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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

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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

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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]