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Financial Institution Letter

Predatory Lending FDIC's Supervisory Policy on Predatory Lending

January 22, 2007
Notes
 
Summary: The attached FDIC Supervisory Policy on Predatory Lending describes certain characteristics of predatory lending, and reaffirms that such activities are inconsistent with safe and sound lending and undermine individual, family and community economic well-being. The statement describes the FDIC's supervisory response to predatory lending, including a list of policies and procedures that relate to consumer lending standards. The FDIC expects the institutions it supervises to treat consumers fairly, adhere to all applicable legal requirements, and underwrite loan products appropriately. 


 

Highlights: 
 

 

Distribution: 
FDIC-Supervised Banks (Commercial and Savings) 

Suggested Routing: 
Chief Executive Officer 
Chief Loan Officer 
Chief Compliance Officer 

Note: 
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2007/index.html . 

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html . 

Paper copies of FDIC financial institution letters may be obtained via the FDIC's Public Information Center (1-877-275-3342 or 703-562-2200).

 



 

Additional Related Topics:

  • Unfair and Deceptive Acts and Practices by State- Chartered Banks; Risks Associated with Subprime Lending; Nontraditional Mortgage Products; Fair Lending; Community Reinvestment; Consumer Financial Education
FIL-6-2007
Attachment(s)
FDIC Supervisory Policy on Predatory Lending

Last Updated: January 22, 2007