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The Illinois Department of Financial and Professional Regulation (IDFPR) is the Illinois state government code department [1] [2] that through its operational components, the Division of Banking, Division of Financial Institutions, Division of Professional Regulation, and Division of Real Estate, oversees the regulation and licensure of banks and financial institutions, real estate businesses ...
All regulated financial institutions in the United States are required to file periodic financial and other information with their respective regulators and other parties. . For banks in the U.S., one of the key reports required to be filed is the quarterly Consolidated Report of Condition and Income, generally referred to as the call report or RC rep
Under the Fair and Accurate Credit Transactions Act (FACTA), an amendment to the FCRA passed in 2003, consumers are able to receive a free copy of their consumer report from each credit reporting agency once a year. [7] The free report can be requested by telephone, mail, or through the government-authorized website: AnnualCreditReport.com. [8]
Here’s a quick overview of how to apply for an unsecured business loan. Research loan options: Explore the types of unsecured business loans and choose the one that suits your business needs.
The Equal Credit Opportunity Act (ECOA) of 1974, implemented by Regulation B, requires creditors which regularly extend credit to customers—including banks, retailers, finance companies, and bank-card companies—to evaluate candidates on creditworthiness alone, rather than other factors such as race, color, religion, national origin, or sex ...
(A) IN GENERAL.—If a foreign bank acquires a bank or a branch of a bank, in a State in which the foreign bank does not maintain a branch, and such acquired bank is, or is part of, a regulated financial institution (as defined in section 803 of the Community Reinvestment Act of 1977), the Community Reinvestment Act of 1977 shall continue to ...
[3] These rules increased pressure on banks to make mortgage home loans to inner-city and rural areas. [4] Savings and loans were no longer allowed to acquire "junk bonds" (aka High-yield debt) and were required to dispose of their holdings of these bonds by 1994. They were also required to mark them to the lower of cost or market value.
The HMDA requires "most lenders to identify the race, sex, and income of loan applicants and borrowers", [3] so the FFIEC is able to deduce things like "the number of mortgages issued to black and Hispanic borrowers rose sharply", as it did in 1993. [5] In 2006, the State Liaison Committee was added to the Council as a voting member. [6]
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