GroundRules
12 CFR 617.7200: What disclosures must a qualified lender make to a borrower on loans offered with more than one rate of interest?
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER VI—FARM CREDIT ADMINISTRATION
- SUBCHAPTER B—FARM CREDIT SYSTEM
- PART 617—BORROWER RIGHTS
- Subpart C—Disclosure of Differential Interest Rates
A qualified lender that offers more than one rate of interest to borrowers must notify each borrower of the right to request a review of the interest rate charged on his or her loan no later than the time of loan closing. At the request of a borrower, the lender must:
(a) Provide a review of the loan to determine if the proper interest rate has been established;
(b) Explain to the borrower in writing the basis for the interest rate charged; and
(c) Explain to the borrower in writing how the credit status of the borrower may be improved to receive a lower interest rate on the loan.
Collected 2026-08-27T02:24:16Z. Source file · JSON