Skip to content
BOL Conferences
Thread Options Tools
#150928 - 01/16/04 04:15 PM Are premium rate violation of ECOA?
MackenzieS Offline
Diamond Poster
MackenzieS
Joined: Jul 2002
Posts: 1,722
Oklahoma
I went to a seminar this week and we were discussing ECOA issues and it was brought to my attention that if you provide rate concessions on loans for a certain class or group of individuals you are setting yourself up for unfair lending.

That got me to thinking. We recently started one of those 55 and older deposit account specials and part of the program is to grant more favorable rates on short term CDs for any accountholder in this group. Is there any similar problems with this as there would be on the lending side?

Return to Top
General Discussion
#150929 - 01/16/04 04:22 PM Re: Are premium rate violation of ECOA?
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 82,977
Galveston, TX
There are no fair deposit regulations........yet.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top