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#1555907 - 05/24/11 04:58 PM adv. action on existing acct - what does this mean
Burgess Offline
Diamond Poster
Joined: Jan 2004
Posts: 1,620
what does this mean:
Reg B 202 9aiii
iii) 30 days after taking adverse action on an existing account; or
so this means that an existing account? the 30 days is from date of adverse action, not application. Does that refer to a loan request for modification of a existing loan?
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Lending Compliance
#1556066 - 05/24/11 07:57 PM Re: adv. action on existing acct - what does this mean Burgess
Carolyn31 Offline
100 Club
Joined: Nov 2005
Posts: 101
Nebraska
It could also be the lowering of a line of credit available balance.

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#1567924 - 06/21/11 09:59 PM Re: adv. action on existing acct - what does this mean Carolyn31
travelgirl Offline
100 Club
Joined: Mar 2004
Posts: 223
Minnesota
What if customer calls and requests to have his payments go from P & I monthly to just interest only monthly for a short time (due to cash flow problems) and the bank says no. Is this considered "Adverse Action"

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