Q: Is business lending covered under Regulation B?
A: Some types of business credit are covered by Regulation B. Specifically, Regulation B defines covered business credit as extensions of credit primarily for business or commercial (including agricultural) purposes. 12 CFR § 1002.2(g). Regulation B excludes certain types of credit, such as public utilities credit, securities credit, incidental credit, and government credit from the definition of business credit. 12 CFR § 1002.3.
This Q&A was obtained from NCUA’s website, in a document entitled “NCUA Fair Lending Examination and Compliance Program for Federal Credit Unions,” which may be found here: