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#2270558 - 05/17/22 08:23 PM Interest Rate Disclosure on Paused Applications
Anonymous
Unregistered

During an online application for an interest bearing product, if the applicant pauses/saves the app for whatever reason and comes back to it, how should an FI handle this if during the pause, rates have changed. What would be required to ensure the FI is in compliance related to disclosure?

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#2270559 - 05/17/22 08:28 PM Re: Interest Rate Disclosure on Paused Applications Anonymous
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,377
Florida
Whatever rate is in effect when there is a legitimate contract between customer and bank.
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Integrity. With it, nothing else matters. Without it, nothing else matters.

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