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#2188387 - 08/08/18 02:13 PM Trust Department
complyorelse Offline
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Joined: Nov 2007
Posts: 442
U.S.
We have a Trust Department - full trust powers through the State. As part of ensuring we are satisfying all credit obligations that may be outstanding for an estate, I am being asked if we can pull credit reports (no score needed) as part of fulfilling our duties as executor, fiduciary, personal representative, or guardian role. I do not see where this falls under permissible purpose but I may not be looking in the right place for this answer. I am being told other Trust service providers do this routinely and I am trying to figure out how without violating FCRA. Until now, we have been writing to the bureaus to obtain this information, providing them with documentation of our role in the estate, and it has been provided. However, this is not efficient and we'd like to utilize an online portal instead.

Any guidance would be most appreciated. Thank you.

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#2188408 - 08/08/18 03:15 PM Re: Trust Department complyorelse
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,368
Galveston, TX
If the subject is actually deceased - who is going to sue you?
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#2188416 - 08/08/18 03:39 PM Re: Trust Department complyorelse
complyorelse Offline
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Joined: Nov 2007
Posts: 442
U.S.
I'm more worried about a violation of FCRA. Is it not a violation (permissible purpose) under these circumstances?

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#2188436 - 08/08/18 05:20 PM Re: Trust Department complyorelse
Dan Persfull Online
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Dan Persfull
Joined: Aug 2002
Posts: 46,774
Bloomington, IN
(2) In accordance with the written instructions of the consumer to whom it relates.

I would assume your Trust Dept. is carrying out your customer's instructions specified in the trust agreement.

Might be a bit of a stretch but that is what I would fall back on. And as Randy alludes to your risk for any liability is going to be minimal.
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#2188442 - 08/08/18 05:52 PM Re: Trust Department complyorelse
complyorelse Offline
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Joined: Nov 2007
Posts: 442
U.S.
I appreciate the feedback, Dan and Randy.

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