[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR617.7305]



[Page 207]

 

                       TITLE 12--BANKS AND BANKING

 

                 CHAPTER VI--FARM CREDIT ADMINISTRATION

 

PART 617_BORROWER RIGHTS--Table of Contents

 

      Subpart D_Actions on Applications; Review of Credit Decisions

 

Sec. 617.7305  What is a CRC and who are the members?



    The board of directors of each qualified lender must establish one 

or more CRCs to review adverse credit decisions made by a qualified 

lender. The CRC may only review adverse credit decisions at the request 

of the applicant or borrower. The CRC has the ultimate decision-making 

authority on the loan or application under review. CRC members are 

selected by the board of directors of each qualified lender and must 

include at least one of the qualified lender's farmer-elected board 

members. The loan officer involved in the adverse credit decision being 

reviewed may not serve on the CRC when it reviews that loan.