Conflict of interest requirements.

CFR · 2024-01-01 · US · Title 12

(a) (i) The loan must be provided pursuant to standard underwriting procedures, terms and conditions; (ii) The Affiliate receiving the loan shall not participate in any way in the decision-making regarding such loan; (iii) The board of directors or other governing body of the lender shall approve the extension of the loan; and (iv) The loan must be provided in accordance with a policy regarding credit to Affiliates that has been approved in advance by the CDFI Fund. (2) A Qualified Issuer or Eligible CDFI that is an Insured CDFI, a Depository Institution Holding Company or a State-Insured Credit Union (as such terms are defined in 12 CFR 1805.104) shall comply with the restrictions on insider activities and any comparable restrictions established by its Appropriate Federal Banking Agency or Appropriate State Agency, as applicable. (b)

official document · source cfr-2024 · id 12:§ 1808.621