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Commercial Lending Newspaper Advertisement

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Question: 
This question is about placing an ad in the newspaper for commercial lending. I assume we don't need to have the FDIC logo in the advertisement, but do we need to state that we are an equal credit opportunity lender? Is there a requirement that says we must state that we do not discriminate on the basis of race, religion, etc.? We thought we would include it anyway, but we are having trouble finding where it specifically states that for commercial lending advertising.
Answer: 

Although the FDIC advertising rules were changed in November 2006, the revised rules still do not require "Member FDIC" in loan advertisements."

The "Equal Opportunity Lender" or "Equal Housing Lender" logo is required by the Fair Housing Act. The logo needs to be included in any loan for the purpose of purchasing, constructing, improving, repairing or maintaining a dwelling or any loan secured by a dwelling. This rules varies slightly by each regulatory agency:

OCC: Technically there is no requirement for the Equal Housing Lender logo type and legend for OCC regulated banks.

FRB: Must use the words "Equal Housing Lender".

FDIC and OTS: Can use either "Equal Housing Lender" or "Equal Opportunity Lender".

First published on BankersOnline.com 03/05/07, modified 03/12/07

First published on 03/05/2007

Last updated on 03/12/2007

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