(i) applicable State law denies the applicant power to

manage or control sufficient community property to qualify for

the amount of credit requested under the creditor's standards of creditworthiness; and

(ii) the applicant does not have sufficient separate property to qualify for the amount of credit requested without regard to any community property.

(e) Insurance. Differentiation in the availability, rates and terms on which credit-related casualty insurance or credit life, health, accident, or disability insurance is offered or provided by a creditor to an applicant shall not constitute a violation of the Act or this Part.

11. Fært are tot sleet and averse actions not taken if, Purelt to any of the following tres of special purpose credit

a cres.com refuses to extent crest to an aplicant solely secause the applicant does not mal.fy under the special requirements that define eligibility for the particular program:

my crest assistance program expressly authorized by Federal or State law for the benefit of an economically disadvantaged class of persons; or

(2) any credit assistance program adm.nistered by a not-forprofit organization, as defined under section 501'c, of the Internal Revenue Code of 1954, as amended, for the benefit of its members or for the benefit of an economically disadvantaged class of persons; or (3) any special purpose credit program offered by a profitmaking organization to meet special social needs, provided that:

(i) the program is established and administered pursuant

to a written plan that (A) identifies the class or classes of persons that the program is designed to benefit and (B) sets forth the procedures and standards for extending credit pursuant to the program; (ii) the program is established and administered to

extend credit to a class of persons who, pursuant to the customary standards of creditworthiness used by the program organization, either probably would not receive such credit or probably would receive it on less favorable terms than are ordinarily available to other applicants applying to the organization for a similar type and amount of credit; and

(iii) the program is administered so as not to discriminate

against an applicant on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract), income derived from a public assistance program, or good faith exercise of any right under the Consumer Credit Protection Act, except that all program participants may be required to share one or more of those characteristics so long as the program was not established and is not administered with the purpose of evading the requirements of the Act or this Part.

(b) Special rule concerning requests and use of information.

If all participants in any of the three types of special purpose credit programs described in subsection (a) are required to possess one or more common characteristics relating to race, color, religion, national origin, sex, marital status, age, or receipt of income from a public assistance program and if the special purpose credit program otherwise satisfies the requirements of subsection (a), then, notwithstanding the prohibitions of sections 202.5 and 202.6, the creditor may request of an applicant and may consider, in determining eligibility for such program, information regarding the common characteristics required for eligibility. In such circumstances, the solicitation and consideration of that information shall not constitute unlawful discrimination for the

purposes of the Act or this Part.

(c) Special rule in the case of financial need. If financial need is one of the criteria for the extension of credit under any of the three types of special purpose credit programs described in subsection (a), then, notwithstanding the prohibitions of sections 202.5 and 202.6, the creditor

may request and consider, in determining eligibility for such program, information regarding an applicant's marital status, income from alimony, child support, or separate maintenance, and the spouse's financial resources. In addition, actwithstanding the prohibitions of section 202.7(4), a creditor may require the signature of an applicant's spouse or other person on an application or credit instrument if required by Federal or State law. In such circumstances, the solicitation and consideration of that information and the obtaining of a required signature shall not constitute unlawful discrimination for the purposes of the Act

or this Part.

(a) Notification of action taken, ECOA notice, and statement

of specific reasons.

(1) Notification of action taken. A creditor shall notify an applicant of action taken within a reasonable time not to exceed 30 days: (i) after receiving a completed application concerning the creditor's approval of, or adverse action regarding, the application (notification of approval may be express or by implication, where, for example, the applicant receives a credit card, money, property, or services in accordance with the application);

(ii) after taking adverse action before an application is

completed; and

account.

(iii) after taking adverse action regarding an existing

(2) Content of notification.

Any notification given to an appli

cant against whom adverse action is taken shall be in writing and shall contain: a statement of the action taken; a statement of the provisions of section 701 (a) of the Act; the name and address of the Federal agency that administers compliance concerning the creditor giving the notification; and

(i) a statement of specific reasons for the action taken; or

(ii) a disclosure of the applicant's right to a statement of reasons within 30 days after receipt by the creditor of a request made within 60 days of such notification, the disclosure to include the name, address, and telephone number of the person or office from which the statement of reasons can be obtained. If the creditor chooses

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