There is often confusion regarding the distinction between a guarantor and a co-signer, and the situations where it is permissible to require a guarantor or a co-signer on a loan. Do you understand the legal prohibitions against requiring a spouse to be a guarantor or co-signer? Are you aware of the new rules about proving that applicants applied for joint credit? The Equal Credit Opportunity Act and Regulation B are a major focus of the NCUA and the CFPB, so your credit union must be well-trained in this complicated area.

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