Section 408.575

Title XXVI TRADE AND COMMERCE

Chapter 408

Effective - 01 Jan 1980, see footnote   

  408.575.  Denial of loans prohibited, when, reasons for. — It shall be unlawful for any financial institution, or any subsidiary or agent thereof, to deny a residential real estate loan to a person because of any of the following factors or to discriminate against any applicant for a residential real estate loan with respect to any aspect of the loan transaction because of any of the following factors:

  (1)  The race, color, religion, national origin, handicap, age, marital status, or sex, of the applicant or the race, religion or national origin of persons living in the vicinity of the residential real estate;

  (2)  The specific geographic location of the residential real estate in such financial institution's local community as defined by it pursuant to the Community Reinvestment Act (12 U.S.C. 2901 et seq.) and the rules and regulations promulgated thereunder.  Any state financial institution not regulated by the Community Reinvestment Act shall, subject to the approval of the appropriate division director, delineate its local community for the purposes of this section and shall make such delineation available to the public upon request at each office where the financial institution accepts applications for residential real estate loans;

  (3)  The age of the residential real estate or the age of structures in the immediate vicinity of the residential real estate.

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(L. 1979 S.B. 305)

Effective 1-01-80