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EQUAL CREDIT OPPORTUNITY ACT -
REGULATION B
Course Description: This course teaches students to evaluate an applicant's creditworthiness
within the boundaries of the Equal Credit Opportunity Act. The course
begins by describing the purpose and coverage of the Equal Credit
Opportunity Act and then reviews what a bank and its employees must do
regarding the taking and processing of loan applications, including
acceptable factors. Students will learn about prohibited bases from
evaluating an application and required notifications. The course
concludes with a discussion of other bank compliance issues, including
the requirements for reporting credit information, record keeping, and
the consequences of noncompliance.
Audience:
Any employee involved in the process of gathering information for credit
transactions
Learning Objectives:
After completing this course, students will be able to:
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Explain the purpose of the Equal Credit Opportunity
Act and what it covers.
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Describe what banks must do to comply with the Equal
Credit Opportunity Act when making credit available.
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Describe what banks must do to comply with the Equal
Credit Opportunity Act when processing a credit application.
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Identify reporting and record keeping requirements, as
well as the consequences for noncompliance.
Course Credits:
AIB: 0.25;
ICB: 5.0 CRCM or CLBB;
CEU: 0.5 Delivery Methods:
This course is available in the following format:
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