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#2244164 - 10/16/20 05:28 PM Medical professional products
MusicCityCRCM Offline
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Joined: Apr 2015
Posts: 228
Curious if any other banks in this forum offer products specifically for medical professionals. Management is discussing it as a possibility, and I am having trouble researching how to offer this and ensure it is fair and compliant.

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#2244166 - 10/16/20 05:44 PM Re: Medical professional products MusicCityCRCM
Rocky P Online
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Joined: Jun 2003
Posts: 7,650
Florida
IMHO, I would be against it, limited to doctors only. They have high loan amounts besides. More successful when opened up tp professionals such as doctors, dentists, CPA's, attorneys, engineers, etc.
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#2244168 - 10/16/20 05:51 PM Re: Medical professional products MusicCityCRCM
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,965
TN
However define your professionals. At a previous employer they originated a loan under this product for a nail technician.
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#2244171 - 10/16/20 06:00 PM Re: Medical professional products MusicCityCRCM
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
You might look very closely at the demographics of your targeted "medical professionals" - nothing like setting yourself up for a disparate impact issue.
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#2244176 - 10/16/20 07:05 PM Re: Medical professional products rlcarey
MusicCityCRCM Offline
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Joined: Apr 2015
Posts: 228
Thank you, that's what I was concerned about from a fair lending standpoint.

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