I'm sure this question has been answered a thousand times before, but I'm hoping to get some additional clarificiation:
In the situation of a consumer loan (ex: Auto Loan, unsecured, etc - not mortgage related):
If a bank uses a consumers credit score in dictating what rate/term/etc the customer gets, they would receive the H-6 Risk-Based Pricing Notice.
If a bank does not use a consumer credit score in dictating what rate/term/etc the customer gets, they would receive the H-1 Risk-Based Pricing Notice.
If said customer doesn't have a credit score, they would receive the H-5 Risk-Based Pricing Notice.
is this correct?