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#1737523 - 09/04/12 11:31 AM Lending to employees
SWFLBanker Offline
Junior Member
Joined: May 2012
Posts: 33
My bank ended consumer lending in the end of 2010, we now only do commercial loans. We have employees requesting loans is there any way we can offer consumer loans to employees only without having "Fair Lending" issues? I've been asked if there if anyway we could consider consumer lending to employees as some sort of benefit for working for the bank, without having to reinstate consumer lending to customers as well. Thanks for any input.

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Lending Compliance
#1737530 - 09/04/12 12:21 PM Re: Lending to employees SWFLBanker
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
I see no Fair Lending Issue with having an employee-only 'benefit' program.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1737580 - 09/04/12 02:17 PM Re: Lending to employees SWFLBanker
swiggles Offline
Power Poster
swiggles
Joined: Aug 2001
Posts: 7,333
...just make sure all employees are treated in a like manner.
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The more you sweat in training, the less you bleed in battle.......

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#1737765 - 09/04/12 07:51 PM Re: Lending to employees SWFLBanker
SWFLBanker Offline
Junior Member
Joined: May 2012
Posts: 33
Thanks for the info!

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