Legal Ease is a ‘question of the week’ chosen from actual calls and emails received by our compliance team. Specific questions posed by community bankers are answered in an easy to understand format. Citations to relevant regulations and commentary are routinely provided. A ‘compliance tip’ is usually included at the bottom of each Legal Ease as a best practice or something to watch out for. Past Legal Ease are included in a searchable archive here.
Question of the Week
Would a request for forgiveness regarding PPP loan follow Regulation B adverse action requirements? For example, customer requests 100% forgiveness only approved for 50%. Would that constitute adverse action?
Learn the answer here