CERCLA - A Lender's Primer

BOL User Rick Bauer, aka Bank Angler, of Sutton Bank in Attica, OH, developed a compliance quickie for training lenders, especially your commercial lenders, in the basic requirements of CERCLA, the Comprehensive Environmental Response, Compensation, and Liability Act. This is sometimes referred to as the Superfund.

This law provides Federal authority to respond directly to releases or threatened releases of hazardous substances that may endanger public health or the environment. Banks have liability when properties they loan against, or foreclose on, present environmental risks. There are steps you must take when making loans, to mitigate risks under CERCLA.

If you find Rick's training tool for CERCLA handy, you may also want to review: