Regulation B: Credit Applications

This Regulation B: Credit Applications online training course explores The Equal Credit Opportunity Act, enacted through Regulation B, prohibits discrimination in credit transactions. The law is designed to protect applicants from unfair or discriminatory lending practices. There is a wide variety of rules housed within Regulation B, which in some form or fashion are there to provide transparency, equal access, and protections to borrowers. A large portion of those rules are related to taking and evaluating applications for credit. In this course, we will discuss things you can and cannot do when processing a credit application as well as information you must collect from an applicant.

Course Learning Objectives

By taking this online Regulation B: Credit Applications course, the user will learn to:

• List the prohibited bases under Regulation B
• Determine if you have a simple credit inquiry or a true application for credit
• Understand what information you can and cannot request from an applicant
• Ensure you correctly document monitoring information as well as joint intent, when applicable
• Understand the information you can and cannot consider when evaluating a credit application

Course Outline

This online Regulation B: Credit Applications course is made up of the following sections:

1. Prohibited Bases
2. What is an Application?
3. Requests for Information
4. Information for Monitoring Purposes
5. Signature Requirements
6. Application Evaluation

Course Audience

This Regulation B: Credit Applications training course was designed for bank employees.

If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.