12 CFR 1002.2 - Definitions
| Cite as | 12 CFR 1002.2 |
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65 practice notes
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Truth in Lending Act (Regulation Z); Loan Originator Compensation
...circumstances, a creditor would not be required to provide an adverse action notice to the consumer under the Bureau's Regulation B, 12 CFR part 1002, which implements the Equal Credit Opportunity Act, because the creditor's denial of the loan that includes discount points and origination p......
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Disclosure and Delivery Requirements for Copies of Appraisals and Other Written Valuations Under the Equal Credit Opportunity Act (Regulation B)
...January 31, 2013 Part VI Bureau of Consumer Financial Protection ----------------------------------------------------------------------- 12 CFR Part 1002 Disclosure and Delivery Requirements for Copies of Appraisals and Other Written Valuations Under the Equal Credit Opportunity Act (Regula......
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Small Business Lending Data Collection Under the Equal Credit Opportunity Act (Regulation B)
...multiple lines of credit within the same account.\333\ --------------------------------------------------------------------------- \330\ 12 CFR 1002.2(f). \331\ SBREFA Panel Report at \332\ Id. \333\ Id. --------------------------------------------------------------------------- Proposed Ru......
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Mortgage Servicing Rules Under the Real Estate Settlement Procedures Act (Regulation X)
...mitigation application) has been designed similarly to the complete and incomplete application concepts underlying Regulation B. See 12 CFR 1002.2(f), 1002.9(c). Thus, at a point in a conversation between a borrower and a mortgage servicer, if the borrower requests an evaluation for a loss ......
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23 cases
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RL BB Acquisition, LLC v. Bridgemill Commons Dev. Grp., LLC, No. 13–6034.
...of “applicant,” and that definition allows guarantors to sue for violations of the spouse-guarantor rule. See12 C.F.R. § 202.2(e), 12 C.F.R. § 1002.2(e). This appeal raises two issues of first impression concerning ECOA's statutory and regulatory scheme. First, we must determine whether Reg......
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Germain v. M & T Bank Corp., No. 13–CV–7273 (KMK).
...of credit from a creditor, and includes any person who is or may become contractually liable regarding an extension of credit." 12 C.F.R. § 1002.2(e). Moreover, a "person" means, among other things, "a natural person, corporation, ... [or] trust." Id. § 1002.2(x). T......
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Tyson v. Sterling Rental, Inc., Nos. 15-1465/1468
...to lenders—are considered “creditors” solely for the purposes of the ECOA's prohibitions on discrimination and discouragement. See 12 C.F.R. § 1002.2(l ). Under Regulation B, in other words, “creditors” who act as mere middle-men between applicants and lenders have no affirmative obligation......
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Johnson v. James B. Nutter & Co., CIVIL ACTION NO. 3:19-0856
..., that an "applicant" is "any person who requests or who has received an extension of credit from a creditor." 12 C.F.R. § 1002.2(e). Regulation B also provides that the terms "extend credit" and "extension of credit" "mean the granting of credit......
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22 firm's commentaries
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CFPB Final Arbitration Rule Bans Class Action Waivers, But Will it Survive?
...Extending credit: Providing an “extension of credit” that is “consumer credit” when performed by a “creditor” as defined in Regulation B, 12 CFR 1002.2, issued pursuant to the Equal Credit Opportunity Credit Decisions: Participating in credit decisions, within the meaning of 12 CFR 1002.2(l......
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Supreme Court Affirmation of Hawkins Case Raises More Questions Than It Answers
...520, 2015 U.S. LEXIS 1635 (Mar. 2, 2015). 2 15 U.S.C. § 1691(a)(1). 3 15 U.S.C. § 1691a(b). 4 Previously 12 C.F.R. § 202.2(e); now 12 C.F.R. § 1002.2(e) under CFPB authority. 2 © 2016 Morrison & Foerster LLP | mofo.com Attorney Advertising Client Alert The women then sued Community Bank, se......
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Supreme Court To Determine Whether ECOA Allows Spousal Guarantors To Challenge Liability
...its own definition, which is broader than the statute and allows guarantors to sue for violations of the spouse-guarantor rule. See 12 C.F.R. § 1002.2(e) (defining "applicant" under Regulation B); 12 C.F.R. § 1002.7(d)(5) ("The applicant's spouse may serve as an additional party [supporting......
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Treatment of Educational ISAs Under Federal and Select State Anti-Discrimination Statutes
...Other courts have interpreted the ECOA definition of “credit” more narrowly and have excluded from its 6 15 U.S.C. § 1691a(d); 12 C.F.R. § 1002.2(j). Under the ECOA, the definition of “credit” is broader than the definition of “credit” in TILA. See 12 C.F.R. § 1026.2(a)(14). Unlike the ECOA......
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