Compliance Alliance Q&A 9/17/2019

Question:

I have a list of reasons for denial on a loan, but is there a separate list of reasons for denying a deposit that are standard reasons?

  

Answer: Unfortunately, there is not a model list of reasons for deposit accounts. The bank may be able to modify some of the reasons in the model forms for credit accounts though, and you can find those in Regulation B here:

https://www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1002/C/ 

 

 

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