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FACTA/FCRA Medical Rules - Cheat Sheet

The use of medical information in credit decisions was addressed as the FACTA rules took effect on April 1, 2006. Lending staff must understand what is acceptable in today's environment of equal treatment. You wouldn't consider the health of your marathon runner applicant, and you can't consider the health of the senior pulling an oxygen tank either. This training handout was designed by Jeanette Nichols CRCM, now a compliance consultant based in Nevada.

This training primer includes a one page overview, so that you can understand the spirit and intent on the rules effecting the use of medical information in a credit transaction. The next two pages provide eleven scenarios, whether each is acceptable under the rules or not, and an explanation as to the reasoning. This is advantageous for initial training and as a reference document.

First published on 04/01/2006

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