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BankNet

BankNet
More resources for national banks

Consumer Protection—Retail

Many laws and regulations focus on providing consumer protection in retail credit; these laws and regulations affect bank procedures, policies, operations, and risk management. They laws are designed to protect consumers from unfair, deceptive, and abusive practices. Follow the links on this page for regulatory resources related to general consumer protection for retail credit.

References

AL = Advisory Letter
OCC=Bulletin

Abusive Lending Practices (AL 2000-7, July 2000)
Alerts bank officers and examiners to lending practices that may violate fair lending and other consumer protection laws and regulations

Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans (AL 2003-3, February 2003)
Covers potential abusive lending practices in loans banks make or purchase through mortgage brokers or other intermediaries

Guidance on Unfair or Deceptive Acts or Practices (AL 2002-3, March 2002)
Covers the risks present in lending and marketing practices that may constitute unfair or deceptive acts or practices

Guidelines for National Banks to Guard against Predatory and Abusive Lending Practices (AL 2003-2, February 2003)
Addresses whether state laws and local initiatives that address abusive lending practices apply to national banks

Predatory and Abusive Lending Practices and Notice of Request for Preemption Determination or Order: Questions and Answers (OCC, 2003-8)
Covers predatory and abusive lending practices and addresses a request for preemption determination of state anti-predatory lending law

Preemption and Visitorial Powers (OCC 2004-6, January 2004)
Addresses applicability of state law to national banks and clarifies the scope of OCC’s visitorial powers over national banks

Preemption Rule (Federal Register, January 13, 2004)
Covers the types of state laws that do not apply to national banks’ lending and deposit-taking activities, as well as those that generally do apply

Procedures to Enhance Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies (Federal Register, July 1, 2009)
Covers final rules implementing the accuracy, integrity, and direct dispute provisions in the Fair and Accurate Credit Transactions Act (section 312)

Real Estate Settlement Procedures Act: Sham Controlled Business Arrangements (OCC Bulletin, 2005-27, August 2005)
Covers the Department of Housing and Urban Development 1996 policy statement on affiliated business arrangements

Real Estate Settlement Procedures Act Statement of Policy (Federal Register, June 7, 1996)
Covers factors used to determine whether a controlled business arrangement is a sham

Standards for National Banks' Residential Mortgage Lending Practices (OCC 2005-3, February 2005)
Covers guidelines to keep national banks from involvement in predatory, abusive, unfair, or deceptive residential mortgage lending practices