§ 337.5. Exemption.
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/us/cfr/t12/s§ 337.5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Check guaranty card programs, customer-sponsored credit card programs, and similar arrangements in which a bank undertakes to guarantee the obligations of individuals who are its retail banking deposit customers are exempted from § 337.2: Provided, however, That the bank establishes the creditworthiness of the individual before undertaking to guarantee his/her obligations and that any such arrangement to which a bank's principal shareholders, directors, or executive officers are a party be in compliance with applicable provisions of Federal Reserve Regulation O (12 CFR part 215). [50 FR 10495, Mar. 15, 1985]
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- 12 CFR 215
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§ 337.5
Exemption.
Cite12 CFR 215
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