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Reg B - Business Loan Credit Decision Timing

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Question: 
Regulation B - for business loans (all sizes) or commercial real estate loans (CRE), are we required to have a credit decision (approved, denied, or counter-offer, etc.) within 30 days after receipt of a completed package, same as for consumer credits?
Answer: 

Yes. Refer to the Commentary to Section 202.9(a)(1) #1. This section of Reg B applies to all applications for credit.

First published on BankersOnline.com 9/14/09

First published on 09/14/2009

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