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#1799333 - 03/28/13 05:56 PM Credit Report shows 30-days late-can we remove?
Tarhe Offline
Diamond Poster
Joined: Nov 2006
Posts: 1,283
California
A customer called re: a 30-day late payment that we reported on her credit report. She knows she paid late and is not disputing it. She has a SOB story about how it is affecting her ability to get another loan and wants to know if well remove our 30-day. Obviously we wont but Im wondering if other banks ever do this? Would this raise UDAAP concerns? As we are not required to report to credit bureaus, is it okay to delete an occurrence from time to time? Just wondering . . .

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Lending Compliance
#1799336 - 03/28/13 05:59 PM Re: Credit Report shows 30-days late-can we remove? Tarhe
manimal Offline
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manimal
Joined: Feb 2008
Posts: 2,207
Deleted
I think, if anything, it raises fair lending concerns. If you do it for one person, then will you do it for everyone? Only men? Only Caucasian people? I'm not asking you directly, but just hypothetically speaking.
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#1799338 - 03/28/13 06:03 PM Re: Credit Report shows 30-days late-can we remove? manimal
Tarhe Offline
Diamond Poster
Joined: Nov 2006
Posts: 1,283
California
Excellent point - thank you!

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#1799483 - 03/28/13 09:58 PM Re: Credit Report shows 30-days late-can we remove? Tarhe
Cowboys Fan Offline
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Joined: Dec 2002
Posts: 4,599
SC
FCRA and reporting accurate info comes to mind.
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#1799518 - 03/29/13 12:05 PM Re: Credit Report shows 30-days late-can we remove? Tarhe
Skittles Offline
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Skittles
Joined: Sep 2002
Posts: 13,963
TN
I agree with Cowboys and manimal - if you report you must report accurately.
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#1799649 - 03/29/13 03:41 PM Re: Credit Report shows 30-days late-can we remove? Tarhe
Rocky P Offline
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Joined: Jun 2003
Posts: 7,441
Florida
Fair Lending as manimal pointed out. Any concession given to one person could be view as discriminatory to those it was not given to.
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