NCUA Q&As – Is business lending covered under Regulation B?

Compliance > Lending > Fair Lending
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.
 
 
ADDITIONAL INFORMATION:
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: 
 

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