Skip to content
BOL Conferences
Thread Options
#612154 - 09/12/06 01:30 PM debit card / adverse action
Graham Priest Offline
Member
Joined: Jul 2004
Posts: 89
Lexington, Ky

If we decline a line, Reg B requires adverse action notice within 30 days. If we decline a debit card to a consumer are we required by regulation to give them any type of notice?

Return to Top
Deposits and Payments
#612155 - 09/12/06 01:41 PM Re: debit card / adverse action
LoisLane Offline
Diamond Poster
LoisLane
Joined: Oct 2001
Posts: 1,570
Wisteria Lane..
If you decline a debit card to a consumer because of information on that person's credit report,you have to send an adverse action notice that gives the name of the consumer reporting agency, address and phone number. You also have to include the FCRA wording that goes along with this. You do not have to include the reason for the denial (delinquent credit, etc).

If your reason for denial is not related to information on a credit report, no notice is required.
_________________________
And where is Superman when I need him?

Return to Top

Moderator:  John Burnett