Skip to content

Reg B Disclosure for Declined Applicant

Answered by: 

Question: 
Reg B: Do you need to disclose the Bank's name and address to a declined business applicant?
Answer: 

The requirements for all AANs are spelled out in section 1002.9(a). Subsection (a)(2) gives the contents of all AANs. Subsection (a)(3)(i) indicates you must give all of the information required by (a)(2) to "small businesses" except two things. The name and address of the bank are not exempt. Therefore, they would need to be provided. Subsection (a)(3)(i)(C) does indicate that if the application is by phone, then you wouldn't have to provide the name and address. Subsection (a)(3)(ii) addresses "large businesses." It does not list the name and address of the bank as a requirement but does indicate the applicant can make a written response for the reasons for denial. If the bank didn't provide their name and address, how would the denied applicant contact the institution to get the reasons?

First published on 05/04/2015

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