Answered by BOL Gurus Mary Beth Guard and Jack Holzknecht Bios
Question: Would the verifying address requirement apply to an existing customer obtaining a new loan where the bank obtains a new credit report that shows an address discrepancy?
Answer: If you receive an address discrepancy notice, then you must form a reasonable belief that the consumer report relates to the consumer about whom you have requested the report. You only have to confirm the accuracy of the address when you establish a continuing relationship.
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