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#1601005 - 09/08/11 03:51 PM Reporting Credit Cards
Need Help Offline
100 Club
Joined: Jan 2007
Posts: 141
Las Vegas, NV
I'm having trouble determining what to report on some of our credit cards. Where it is obvious that the customer requested an additional card or other increase, I'm reporting only the increased amount.

However, some files show a routine credit review (together with other credit lines of the customer) and an "extension of the maturity date" of the credit card, together with an increase in the amount. In such cases do I report only the increase?

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CRA
#1601455 - 09/09/11 12:55 PM Re: Reporting Credit Cards Need Help
zitch70 Offline
Gold Star
Joined: Apr 2001
Posts: 331
Edinburg, Texas
Are you reporting credit cards under the optional loan reporting? If so why, it is optional reporting and you have to report all credit card loans and an error is a violation. So why submit them if it does not help much.

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#1601640 - 09/09/11 03:19 PM Re: Reporting Credit Cards Need Help
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,281
Originally Posted By: confused again
I'm having trouble determining what to report on some of our credit cards. Where it is obvious that the customer requested an additional card or other increase, I'm reporting only the increased amount.

However, some files show a routine credit review (together with other credit lines of the customer) and an "extension of the maturity date" of the credit card, together with an increase in the amount. In such cases do I report only the increase?


Are these business credit cards, brought in under small business loans?
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#1601755 - 09/09/11 04:58 PM Re: Reporting Credit Cards Need Help
Need Help Offline
100 Club
Joined: Jan 2007
Posts: 141
Las Vegas, NV
Yes, these are credit cards issued to businesses and reported as small business loans.

I do not do the CRA reporting. I'm doing an audit.

Thanks for your help.

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#1602076 - 09/09/11 11:17 PM Re: Reporting Credit Cards Need Help
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,281
They follow small business loan guidance except for a comment on reporting all cards issued on the same day as one - that comment is in the Q&As.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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