As more and more banks develop a home page on the internet, they are finding that there are some interesting compliance aspects of banking in cyberspace.
Question: We have conducted a self-assessment for CRA and fair lending and concluded that we need to increase our lending to minorities in our community.
William W. Wiles RE: Docket No. R-0942
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue, N.W.
Truth in Lending and Regulation Z apply to all consumer credit, that is, credit requested by a consumer and for the use of the consumer. Business loans are exempt from Regulation Z.
Like Truth in Lending, the rules on HMDA never seem to stay put for more than a year. Keeping up the tradition of annual changes, the Federal Reserve Board has proposed changes to Regulation C.