Skip to content

Fair Lending & Loan Marketing

Answered by: 

Question: 
Does the Fair Lending Act limit the ability of a bank to use age as a targeting tool in direct marketing for loans?
Answer: 

Reg B and fair lending prevent discrimination on the basis of age, so you can restrict it to those of the age to contract, but you shouldn't select "only those between 18 and 22" for a particular product. Why wouldn't someone who is 23, 43 or 63 qualify? This could be hard to explain in front of your examiner or a jury of your peers, who will be customers who resent bankers in many cases.

First published on BankersOnline.com 4/19/10

First published on 04/19/2010

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