Loan Orignators under new Reg Z rule

Currently the bank I work for does not have applicants complete an employment application. So under the new Reg Z rules the bank will need to pull credit reports and perform background checks on any loan officer that may take an application for a consumer real estate loan. So won't the bank need to give these employees something in writing stating the bank will be pulling credit etc?

I would take a look at the provisions in the Fair Credit Reporting Act and see if whatever type of report you will be ordering meets the definition of an "investigative consumer report." If so, then there are certain disclosures that must be made.

http://www.bankersonline.com/regs/fcra/fcra.html

Good idea. Thanks.