12 CFR §1002.6 — Rules concerning evaluation of applications
Regulation B §1002.6 governs how [LENDER] may evaluate credit applications under the effects-test framework.
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Verbatim regulatory text
Verbatim provisions from 12 CFR §1002.6 — Rules concerning evaluation of applications — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
12 CFR §1002.6(a) — General rule concerning use of information
(a) General rule concerning use of information. Except as otherwise provided in the Act and this part, a creditor may consider any information obtained, so long as the information is not used to discriminate against an applicant on a prohibited basis . The legislative history of the Act indicates that the Congress intended an “effects test” concept, as outlined in the employment field by the Supreme Court in the cases of Griggs v. Duke Power Co., 401 U.S. 424 (1971) , and Albemarle Paper Co. v. Moody, 422 U.S. 405 (1975) , to be applicable to a creditor 's determination of creditworthiness.
12 CFR §1002.6(b)(1) — No prohibited basis in creditworthiness system
(1) Except as provided in the Act and this part, a creditor shall not take a prohibited basis into account in any system of evaluating the creditworthiness of applicants.
12 CFR §1002.6(b)(2)(i) — Age and public-assistance program income
(i) Except as permitted in this paragraph, a creditor shall not take into account an applicant 's age (provided that the applicant has the capacity to enter into a binding contract) or whether an applicant 's income derives from any public assistance program .
12 CFR §1002.6(b)(5) — Income consideration
(5) Income. A creditor shall not discount or exclude from consideration the income of an applicant or the spouse of an applicant because of a prohibited basis or because the income is derived from part-time employment or is an annuity, pension, or other retirement benefit; a creditor may consider the amount and probable continuance of any income in evaluating an applicant 's creditworthiness. When an applicant relies on alimony, child support, or separate maintenance payments in applying for credit , the creditor shall consider such payments as income to the extent that they are likely to be consistently made.
12 CFR §1002.6(b)(6) — Credit history consideration
(6) Credit history. To the extent that a creditor considers credit history in evaluating the creditworthiness of similarly qualified applicants for a similar type and amount of credit , in evaluating an applicant 's creditworthiness a creditor shall consider:
12 CFR §1002.6(b)(8) — Marital-status equal evaluation
(8) Marital status. Except as otherwise permitted or required by law, a creditor shall evaluate married and unmarried applicants by the same standards; and in evaluating joint applicants , a creditor shall not treat applicants differently based on the existence, absence, or likelihood of a marital relationship between the parties.
12 CFR §1002.6(b)(9) — Race/color/religion/national origin/sex
(9) Race, color, religion, national origin, sex. Except as otherwise permitted or required by law, a creditor shall not consider race, color, religion, national origin, or sex (or an applicant 's or other person 's decision not to provide the information) in any aspect of a credit transaction .
12 CFR §1002.6(b)(6) — Credit history consideration — enumerated items (chapeau recall fix)
(i) The credit history, when available, of accounts designated as accounts that the applicant and the applicant 's spouse are permitted to use or for which both are contractually liable ; (ii) On the applicant 's request, any information the applicant may present that tends to indicate the credit history being considered by the creditor does not accurately reflect the applicant 's creditworthiness; and (iii) On the applicant 's request, the credit history, when available, of any account reported in the name of the applicant 's spouse or former spouse that the applicant can demonstrate accurately reflects the applicant 's creditworthiness.