Section 8.02. Certain underwriting practices prohibited.

  Unless required by state (including ch. 766 , Stats. ) or federal law or by the rules or regulations of a state or federal agency, no association may utilize an underwriting practice that:

(1)  Fails to consider all of the regular and dependable income of each person who will become obligated for payment of the debt.

(2)  Varies the terms or criteria of the extension of credit on the basis of the child-bearing capacity of an applicant or an applicant's spouse.

(3)  Utilizes lending standards that have no economic basis and are discriminatory in effect.

History: Cr. Register, June, 1989, No. 402 , eff. 7-1-89.