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#2232339 - 03/04/20 08:27 PM No interest loans
WIBanker91 Offline
100 Club
Joined: Nov 2011
Posts: 180
WI
Does anyone know if there is a prohibition against doing a consumer or commercial loan at a 0% interest rate? (Other than bad for business, in this case it is a work out situation).

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Lending Compliance
#2232343 - 03/04/20 08:33 PM Re: No interest loans WIBanker91
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,633
Galveston, TX
Not aware of any prohibition.
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#2232361 - 03/04/20 09:47 PM Re: No interest loans WIBanker91
Rocky P Online
Power Poster
Joined: Jun 2003
Posts: 7,424
Florida
Same as Randy's. Just make sure the bank has a policy about it, and is consistent with that application of policy . If you only did it for companies owned by white guys to the exclusion of businesses owned by women or other minorities you can create a fair lending issue
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