New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter III - SUPERINTENDENT'S REGULATIONS
Subchapter A - BANKING ORGANIZATIONS
Part 340 - Extension Of Credit On A Nondiscriminatory Basis
Section 340.1 - Inquiries concerning marital history, status, and number of dependents

Universal Citation: 3 NY Comp Codes Rules and Regs ยง 340.1

Current through Register Vol. 46, No. 12, March 20, 2024

For purposes of Executive Law section 296-a(1)(c), it shall not be considered an expression of limitation, specification or discrimination on the basis of sex or marital status if:

(a) a creditor requires an applicant to disclose the name or names by which he or she has previously been known, provided that this information is used solely to determine the applicant's identity and previous credit history;

(b) Where application is made for a mortgage and the creditor determines that the signature of the spouse is required in order to pass clear title in the event of a default, a creditor requests information concerning marital status, provided that the information disclosed by such inquiry is used solely for the purpose of perfecting title;

(c) a creditor inquires as to the number of the applicant's dependents, provided that the information disclosed by such inquiry is used solely to determine costs and expenses payable by the applicant.

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