Skip to content

Director Profile Package Submitted to FDIC

If the bank has submitted a director profile package to the FDIC and he/she has not been approved as of yet, would a loan to this person be considered a Reg O loan?

Dan Persfull

See the third paragraph of the interpretive letter. Although it specifically references Executive Officer I think you can apply the good faith reference to Directors as well.


John Burnett

After reading that letter, I think you'll agree that any loan you make to the individual should conform to the limits of Regulation O. In particular, it would probably not be viewed as "good faith" to make a loan now on terms more advantageous to the director-nominee or presenting more risk than loans or terms available to similarly-situated members of the general public.

First published on 04/13/2015

Filed under: 
Filed under lending as: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics