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#1698743 - 05/11/12 04:42 PM Address discrepancy on denial
ADN Offline
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Joined: Mar 2007
Posts: 221
Does anyone know if we are required to acknowlege or comment on an address discrepancy on the credit report if the loan is denied?

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#1698769 - 05/11/12 05:20 PM Re: Address discrepancy on denial ADN
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
2. If the user plans to deny the consumer’s application to open a new account on the basis of information in a consumer report, must a user that receives a notice of address discrepancy take steps to establish a reasonable belief that the consumer report it has obtained relates to the consumer?

Yes. If a user plans to deny the consumer’s application based on a consumer report, the user must take steps to ensure that the consumer report on which it is relying pertains to the consumer.

http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20090611a1.pdf
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#1727039 - 08/03/12 02:49 PM Re: Address discrepancy on denial rlcarey
Compliance Lover Offline
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Joined: Aug 2008
Posts: 555
What if the person's name is slightly misspelled and the DOB is incorrect on the credit report? Everything else, SS#, address, etc. is correct. Are we required to do anything?

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