Discrepancy Rules and Business Debit Card Holders
Answered by BOL Gurus Mary Beth Guard and Jack Holzknecht Bios
Question: Do the address discrepancy rules apply to business debit card holders?
Answer: Action is triggered by receipt of a notice of address discrepancy. If you obtain a credit report on a business debit card holder and a notice is received, then you must form a reasonable belief that the report relates to the consumer about whom you requested it. But, you only need to report a confirmed address to the CRA if you are establishing a continuing relationship and if you regularly and in the ordinary course of business furnish information to the CRA.
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