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#2165540 - 02/22/18 10:50 PM CRAnotice to consumer credit report was pulled?
ccman Offline
Platinum Poster
Joined: Sep 2007
Posts: 937
Are CRAs now required to notify the consumer if his credit report was pulled?

I am being asked if this is something that the CRAs are doing now because of fraud?

thanks.

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#2165740 - 02/24/18 12:22 PM Re: CRAnotice to consumer credit report was pulled? ccman
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
No - but there are a number of credit theft monitoring program vendors out there that will do just that.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2178142 - 05/15/18 03:41 PM Re: CRAnotice to consumer credit report was pulled? ccman
Cbravo Offline
New Poster
Joined: May 2018
Posts: 5
If credit is pulled but not used for lending decision am I still required to disclose credit score and credit factors. We are in the process of implementing tools for identity theft to detect fraud. If inconsistent information is detected we are thinking about sending an Adverse Action Notice just disclosing something along the lines of inability to verify identification information. Because of our process credit is pulled for some of our products I'm not sure if we need to disclose credit score and credit factors as well.

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#2178165 - 05/15/18 04:13 PM Re: CRAnotice to consumer credit report was pulled? ccman
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
Sec. 615. Requirements on users of consumer reports

(a) Duties of users taking adverse actions on the basis of information contained in consumer reports. If any person takes any adverse action with respect to any consumer that is based in whole or in part on any information contained in a consumer report, the person shall
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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