Click to return to BOL home page
Banker Store Read A Reg BOL Insiders Career Connect Learning Connect Bankers Information Network

Search BankersOnline
using Google


MAIN CONTENT 

Compliance

Lending

Marketing

Operations

Security

Technology/eBanking


REGULATIONS 


Alphabet Soup







SHOP 


Banker Store

Bankers Info Ntwk


CONNECT 

Career Connect

Learning Connect

Guru Central


INTERACT 

Ask a Guru

Bankers Threads

Contact Us

Give Us Feedback


LEARN MORE 

About Our Sponsors

About Us






Print Friendly! Email This Article! Discuss NOW!


Is an adverse action letter required when a counter offer is accepted?
Answer by Andy Zavoina, BOL Guru
BIO AND CONTACT INFO

Question: I know it is necessary to issue an ECOA Adverse Action Letter if an applicant does not accept a counter offer. I also know that Reg B allows an applicant up to 90 days to accept the counter offer. My question is this - If an applicant ACCEPTS the counter offer, is an Adverse Action letter required for the original request?

Answer: If a counteroffer is accepted no adverse action notice is necessary.

The 90 days you mention may be the time in which a counteroffer is allowed to remain on the table before an adverse action notice is required to be delivered. There is no mandatory time-frame in which a counteroffer must remain.


July 23
Adverse Action: Decisions, Notices - How Hard Can It Be?


First published on BankersOnline.com 7/21/03









Privacy Policy    Disclaimer   Recommend This Site !   Contact Us


BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.