Federal regulators unveiled guidelines Wednesday for subprime lending.

The banking agencies urge subprime lenders to boost capital levels, hire loan officers with experience in the subprime market, adopt collateral and appraisal requirements tailored to these types of loans, and implement extensive monitoring of subprime portfolios.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.