Data regarding borrowers and loan applicants.

CFR · 2024-01-01 · US · Title 12

(a) Except as provided in paragraph (b) of this section, the directors, officers, and employees of every bank and association shall hold in strict confidence all information regarding the character, credit standing, and property of borrowers and applicants for loans. They shall not exhibit or quote the following documents: Loan applications; supplementary statements by applicants; letters and statements relative to the character, credit standing, and property of borrowers and applicants; recommendations of loan committees; and reports of inspectors, fieldmen, investigators, and appraisers. (b) The requirements of paragraph (a) of this section are subject to the following exceptions. (1) Examiners and other authorized representatives of the Farm Credit Administration and the bank concerned shall have free access to all information, records, and files. (2) In connection with a legitimate law enforcement inquiry, accredited representatives of any agency or department of the United States may be given access to information upon presentation of official identification and a written request specifying: (i) The particular information desired; and (ii) That the information is relevant to the law enforcement inquiry and will be used only for the purpose for which it is sought. (3) The chairman of the presidents committees and the presidents of the banks may supply statistical and other impersonal information pertaining to groups of borrowers, applicants, and loans, in response to requ

official document · source cfr-2024 · id 12:§ 618.8320