Top Ten Do's and Don'ts
at Credit Group Meetings
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 DON'T ever use the word "we".
DON'T ever use the phrase "let's".
DO pay attention to your attorney.
DO speak only in objective terms.
DON'T make disparaging remarks
about your customers.
DO speak in terms of the business
only, eliminating unsubstantiated or irrelvant details on the lives of
the principals.
DON'T talk about a particular
customer outside of the credit group meeting.
DON'T plan at the meeting on what
the future credit policy should be for members of the goup.
DO all of your talking and discussing
in the presence of the moderator.
DON'T circulate handwritten notes
during the meeting.
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ABOUT CREDIT GROUPS
Credit Groups allow credit professionals to share pertinent data about
common customers. By doing so the participant firms make better credit
decisions. Credit Groups are governed by set rules of behavior.
Of primary importance is the requirement that individual participants make
credit decisions independently. It is illegal for multiple creditors
to conspire to deny credit to to a customer.
CREDIT GROUP BASICS
Credit Groups are organizations comprised of competitors. The
laws of the United States allow competitors to meet and exchange credit
information when following certain basic rules. Creditors can not,
as a group, agree to extend or deny credit to a customer. Whether
to extend or deny credit to a customer is a decision for the individual
credit extender. This is the golden rule of credit groups.
What is "credit" is also open to certain interpretation. For
example, credit groups should never discuss credit terms.
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