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Pursuant to a congressional request, GAO evaluated a bank's test of credit card accounts in the Northeast to determine whether it could reduce losses by reviewing credit card accounts earlier than its normal 2-year cycle, focusing on whether the test was discriminatory.

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Recommendations for Executive Action

Agency Affected Recommendation Status
Office of the Comptroller of the Currency 1. The Comptroller of the Currency should direct the national bank examination staff, as part of its planned 1992 compliance examination, to review First Chicago's credit card operations to better ensure that the Northeast test did not in effect violate ECOA.
Closed - Implemented
The OCC compliance examination is completed. This examination tested for "in effect" discrimination against First Chicago's Northeast credit card holders. No evidence of discrimination was found.

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