For our training department I made a list of questions and statements that couldn't be asked/made to applicants/consumers. This was mostly race, religion, etc (per ECOA), medical type questions (per FACT Act), Fair Lending, etc.

Now I want to do a list of what is OK to ask or say. If you were doing such a list, what would you include?

FYI, the audience will be mostly lenders

Basically questions about income, expenses, payment history (items on credit that aren't medical).

Example:
Do you anticipate any changes in income during this loan?

Will your expenses change in the near future (i.e. rent increases, moving, etc.)?

You showed xx payments past due on your xx credit card. What were the circumstances (why did you pay it late)?

Other questions on length of employment, residence would be ok as well.

Examples: Your credit report shows several residences recently, why is that? Will you be moving again in the near future? Why did you only stay at your last job 5 months? etc.

ECOA
For applications of certain types of credit you can ask marital status using the terms "married", "unmarried", and "separated"

Permanent residency or immigration status

The ownership of assets

Number and ages of applicant's dependents or dependent-related financial obligations or expenditures

FCRA
The dollar amount, repayment terms, repayment history, and similar information regarding medical debts to calculate, measure, or verify the repayment ability of the consumer, the use of proceeds, or the terms for granting credit;

The value, condition, and lien status of a medical device that may serve as collateral to secure a loan;

The dollar amount and continued eligibility for disability income, workers' compensation income, or other benefits related to health or a medical condition that is relied on as a source of repayment

The identity of creditors to whom outstanding medical debts are owed in connection with an application for credit, including but not limited to, a transaction involving the consolidation of medical debts.


By the way - would you be willing to share your list of taboo questions and statements???