Bank has received a written request from a previous loan borrower who wants us to remove a 2011 paid (as agreed) trade from his credit bureau. Request was written by borrower, is not a boilerplate template letter that we sometimes see. Borrower was never deliquent, so there is nothing negative reported regarding this trade. Bank contacted individual by phone to discuss, and borrower still wants trade removed. Are we required/obligated to remove this trade per the customer's written request? Is there any regulation that governs this? Thanks.

In order for the bank to maintain data integrity in it's CRA reporting, the following criteria must be used regardless of requests from borrowers or internal lenders:

The deletion of an account must meet the following criteria:

i. Accounts which have been forwarded or sold to another entity.
ii. Accounts (collection) which have been canceled and returned to the original creditor.
iii. Accounts reported in error.
iv. Accounts which have been confirmed as fraudulent.

Thanks for the response. What is the regulatory citation for this information?

The reason for the deletion does not meet the criteria you listed. Loan is a legitimate trade that borrower paid in full, it was not reported in error or fraudulent. Borrower indicated over the phone he is retiring and is request all paid trades (with various FIs) be removed from his bureau, as he does not want to be able to get loans once he retires. ??? Bank tried to reason with borrower on this and explain that trade will eventually fall off on its own.

So based on the information provided we are not obligated to delete this trade and in order to maintain data integrity we must leave it out there on the bureau?

The source is the CDIA Credit Reporting Resource Guide. You cannot maintain data integrity if you can choose who and who not to report. If the gentleman doesn't want to get loans after he retires - tell him not to apply for any.

Where can I find that guide? Thanks.