We have a car loan which was made to the daughter of an Officer of the Bank prior to his becoming a Bank employee. The Officer is not a co-signor, and I'm being told that she qualified for the loan on her own when she applied, and the amount is less than $25,000.
Occasionally the father will transfer money from an account he maintains at another financial institution to help her with the monthly payment. Should this loan be classified as a Reg. O loan? If so, is there any additional reporting that we need to implement?
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu