My husband's credit union violated that one, big time. It was either that, or they violated the prohibition on pulling a credit report to use for marketing purposes. This happened a couple of years ago. I decided to try out the CFPB complaint process and discovered that if a state chartered credit union violates a regulation, good luck in getting anyone to do anything about it. The State agency and the FTC were non-responsive.
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CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'