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A bank’s board of directors should accept the written program and oversee its implementation.

A bank’s board of directors should accept the written program and oversee its implementation.

Equal Credit chance Act/ Regulation B Illegal discrimination may possibly occur when a bank has both payday along with other short-term financing programs that function considerably various interest rate or rates structures. Examiners should figure out to who these products are marketed, and just how the rates or costs for every system are set, and whether there was evidence of possible discrimination. Payday lending, pke other types of financing, can also be at risk of discriminatory methods such as for example discouraging apppcations, asking for information or assessing apppcations on a prohibited foundation. (más…)

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