Application information under Regulation B: the elderly definition, spouses and co-signers

Information is not a repayment promise

Regulation B separates permitted application questions from signatures needed for credit. Permission to obtain spouse information does not itself authorize requiring a spouse to be liable.

Age and application questions

Elderly means age 62 or older; age counts fully elapsed years since birth. Retirement and age 65 are not substitutes. (12 C.F.R. § 1002.2(d), (o).)

Spouse information is generally restricted. A creditor may request information that could be requested about the applicant when the spouse may use the account, will be contractually liable, or provides income relied on for repayment; when the applicant resides in a community property jurisdiction or relies on property there; or when repayment relies on alimony, child support, or separate maintenance from a spouse or former spouse. Marriage alone is not a trigger. (12 C.F.R. § 1002.5(c).)

A mortgage creditor may ask marital status using married, unmarried, separated. Unmarried includes single, divorced, and widowed. Individual unsecured credit generally bars the question, subject to the community property exception. Before asking whether stated income is alimony, child support, or separate maintenance, disclose that the applicant need not reveal it if the applicant does not want it considered. (12 C.F.R. § 1002.5(d)(1)–(2).)

Do not ask about birth control, childbearing capability, or plans to bear or rear children. The number and ages of dependents and dependent-related obligations or expenses may be requested without regard to a prohibited basis. (12 C.F.R. § 1002.5(d)(3).)

Three signature paths

• Individual qualification: Generally do not require a spouse or other person's signature when the applicant independently qualifies. A joint applicant is different, but joint financial statements or jointly held assets do not establish a joint application.
• Collateral access: For secured credit, a signature may be required on an instrument necessary, or reasonably believed necessary under applicable law, to make collateral available after default. A lien signature does not itself justify requiring personal liability. Property rights depend on applicable law; identify what each instrument must accomplish.
• Additional liability: If another person's personal liability is needed under creditworthiness standards, a creditor may request a cosigner, guarantor, endorser, or similar party. The spouse may serve, but the creditor cannot demand the spouse specifically. Additional parties receive the same protections against prohibited requirements.

These signature rules are in 12 C.F.R. § 1002.7(d)(1), (4)–(6).