Exterior Signage Disclosures

Answered by:

Question:

I am trying to find the required disclosures to include the following message on exterior signage "100% Financing Available, Low Down Payments and No Hidden Fees." Can you help?

Answer:

I don't believe any of the information provided in this signage triggers further disclosures. Refer to Section 226.16 of Reg Z (for open-end credit advertising requirements) and Section 226.24 (for closed-end credit advertising requirements). If this is a home loan promotion, you do need to include the Equal Housing Lender logo (unless your institution is regulated by the OCC).

First published on BankersOnline.com 04/02/07