Lending officers are continually plagued with the intricate problems of installment lending. Banks of different sizes may be interested in different programs and degrees of sophistication. This section attempts to provide a clear and concise guide to the operational requirements of small and medium size banks, as well as fulfilling needs of larger banks. Regulatory agency requirements dealt with in detail elsewhere in this manual will be held to a minimum for clarity. Only those requirements that have special impact on the subject matter under consideration will be discussed. This section addresses pre-credit judgment processes, step-by-step procedures, special types of installment credit, collections and limitations on interest charged (usury). The forms and checklists provided are not intended to be exclusive but serve as a guide upon which bankers can check procedures or develop the bank’s own installment credit lending procedures.
Cross References in the NBA Compliance Handbook:
Volume I
* Compliance Management
* Governance
* Record Retention
* Public Disclosure
Volume II
* Bank Promotion
Volume III
* Secured Transactions
* Real Estate
* Lending
* Environmental Issues