New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter III - SUPERINTENDENT'S REGULATIONS
Subchapter B - NON-BANKING ORGANIZATIONS
Part 408 - Extension Of Credit On A Nondiscriminatory Basis
Section 408.2 - Statement of reasons for rejection
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 408.2
Current through Register Vol. 46, No. 12, March 20, 2024
For purposes of Executive Law, section 296-a(4)(a), a statement of the specific reasons for rejection of an application for credit shall be deemed to be in compliance with this section if it is a clear and meaningful statement of all of the factors which justified rejection.
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