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#804883 - 08/29/07 03:50 PM Joint credit violations
Anonymous
Unregistered

We are struggling w/ our commercial lenders on our joint intent documentation. What are the penalties for this Reg B violation? It might help to get our point across if we can share the risk of penalties involved.

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#804946 - 08/29/07 04:19 PM Re: Joint credit violations Anonymous
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,529
Bloomington, IN
You can find the potential enforcement penalties and liabilities by reading 202.17 and going to the referenced sections of the Act (Act means the Equal Credit Opportunity Act title VII of the Consumer Credit Protection Act).
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The opinions expressed are mine and they are not to be taken as legal advice.

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