Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance open -end loan secured by stock - TIL?
Thread Options
#1000198 - 07/21/08 02:10 PM open -end loan secured by stock - TIL?
bcastle Offline
100 Club
Joined: Nov 2003
Posts: 181
Springfield, Illinois (Souther...
We have a consumer loan open-end line of credit for one year secured by stock. Should this loan require a TIL? Any help would be appreciated. thank you.
_________________________
bcastle CRCM

Return to Top
Lending Compliance
#1000245 - 07/21/08 02:37 PM Re: open -end loan secured by stock - TIL? bcastle
Ray_ Offline
Platinum Poster
Joined: Aug 2006
Posts: 879
Dallas, TX
Unless the line is over $25,000, you must comply with Reg Z.

Return to Top
#1000248 - 07/21/08 02:37 PM Re: open -end loan secured by stock - TIL? bcastle
Dan Persfull Online
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,533
Bloomington, IN
If it's credit limit is $25,000 or less it is subject to Reg. Z disclosures.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#1000255 - 07/21/08 02:41 PM Re: open -end loan secured by stock - TIL? Dan Persfull
bcastle Offline
100 Club
Joined: Nov 2003
Posts: 181
Springfield, Illinois (Souther...
The credit line is $350,000 (more than $25,000) ~ so Reg. Z would not apply. thanks for your help.
_________________________
bcastle CRCM

Return to Top
#1000264 - 07/21/08 02:45 PM Re: open -end loan secured by stock - TIL? bcastle
Ray_ Offline
Platinum Poster
Joined: Aug 2006
Posts: 879
Dallas, TX
Don't forget the Reg. U Statement of Purpose.

Return to Top

Moderator:  Andy_Z