Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 12 - Banks and Banking |
Chapter X—Consumer Financial Protection Bureau |
Part 1002 - Equal Credit Opportunity Act (Regulation B) |
Subpart B - Small Business Lending Data Collection |
§ 1002.103 - Covered applications.
Latest version.
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§ 1002.103 Covered applications.
(a) Covered application. Except as provided in paragraph (b) of this section, covered application means an oral or written request for a covered credit transaction that is made in accordance with procedures used by a financial institution for the type of credit requested.
(b) Circumstances that are not covered applications. A covered application does not include:
(1) Reevaluation, extension, or renewal requests on an existing business credit account, unless the request seeks additional credit amounts.
(2) Inquiries and prequalification requests.