Summary: | The FDIC is issuing the attached supervisory guidance to remind FDIC-supervised financial institutions that if, for risk management purposes, they decide to reduce or suspend home equity lines of credit, certain legal requirements designed to protect consumers must be followed. In addition, the FDIC urges institutions to work with borrowers to minimize hardships that may result from such reductions or suspensions. |
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To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html . Paper copies of FILs may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275- 3342 or 703-562-2200).
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Additional Related Topics:
- . 2005 Home Equity Lending: Credit Risk
- Management Guidance;
- . 1999 Interagency Guidance on High LTV
- Residential Real Estate Lending