Customer Uses More than One Address
Answered by BOL Gurus Mary Beth Guard and Jack Holzknecht Bios
Question: What happens when we run a credit report based on an address on the app and then the customer decides to use a different address because they can't provide proof for the first address on the application. Would we need to notify the bureaus?
Answer: Action is triggered by receipt of a notice of address discrepancy. If a notice is received (because you used the first address the consumer provided when requesting the report, 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. If you don't receive a notice then no action is triggered. However the consumer's action of switching addresses may constitute a red flag and may trigger action under your Identity Theft Prevention Program.
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