Only Current Customers Eligible for Credit?

Answered by:

Question:

Can we require that only current customers of the bank are eligible for credit?

Answer:

Answer by Richard Insley: You can, but don't allow any exceptions. Even a single exception puts the wheels of fair lending disparate treatment in motion.

Answer:

Answer by Randy Carey: You also better make sure that you are totally meeting your community credit needs with your current customer base or your CRA rating is going to suffer dramatically.

First published on BankersOnline.com 9/22/08