The FDIC has issued a revised edition of SIDE-BY-SIDE, A guide to Fair Lending.
Question: My bank's indirect lending department wants to draft a "friendly" adverse action letter. They also want to preprint the ECOA notice on the back side of the stationary.
At the 1996 ABA Compliance Conference, the panel of regulators was asked what they considered to be "hot topics" in compliance for the coming year.
Under the new regulation and examination procedures, small banks are earning high CRA ratings. For example, FDIC has completed 670 "new" CRA examinations in 1996.
Question: Is there a requirement for a fair lender statement in an advertisement for SBA loans?