Missouri Laws 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;
Terms Used In Missouri Laws 408.575
- Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. Source: OCC
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Handicap: means a mental or physical impairment that substantially limits one or more major life activities, whether the impairment is congenital or acquired by accident, injury, or disease, and where the impairment is verified by medical findings. See Missouri Laws 1.020
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
(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.