Carl W Stone

US Patent:

6993505, Jan 31, 2006

Filed:

Aug 20, 1997

Appl. No.:

08/914789

Inventors:

Charles B. Katz - New York NY, US
William T. Caldon - Floral Park NY, US
Daniel Mahoney - Rahway NJ, US
Carl Stone - Sea Cliff NY, US

Assignee:

Citibank, N.A. - New York NY

International Classification:

G06F 17/60

US Classification:

705 38, 705 44, 715522, 715523

Abstract:

The present invention discloses a method and system for collecting, standardizing, and analyzing lending data from all the offices of a financial institution, including information on small business, home equity, motor vehicle, credit card, mortgage, other secured and unsecured consumer products for commercial, community development, not-for-profit, and consortium customers. The invention enables data collection and analysis in a timely fashion such that interim reports may be prepared so that changes in lending practices can be implemented to assist with assuring compliance with the fair lending acts. A central repository is linked to all of the offices of the financial institution, and data mapping features are used to provide standardized reporting so that all data will be reported in a standardized form. The system processes, collects and standardizes information on new loans, renewals, credit line increases and application decisions for all of the business units within a financial institution. The present invention permits internal management reporting for review of performances against the CRA and HMDA plans.