408.575. Denial of loans prohibited, when, reasons for. - Missouri Statutes

Denial of loans prohibited, when, reasons for.

408.575. It shall be unlawful for any financial institution,or any subsidiary or agent thereof, to deny a residential realestate loan to a person because of any of the following factorsor to discriminate against any applicant for a residential realestate loan with respect to any aspect of the loan transactionbecause 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 ofthe residential real estate;

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

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

(L. 1979 S.B. 305)

Effective 1-1-80