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#2257839 - 08/06/21 10:02 PM Disclosure of Right to Request Specific Reasons
TryingtoComply Offline
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Joined: Apr 2013
Posts: 1,826
The West
We use CFPB Sample Notification Form C-8 DISCLOSURE OF RIGHT TO REQUEST SPECIFIC REASONS FOR CREDIT DENIAL GIVEN AT TIME OF APPLICATION (Business Credit)

The notice is in our business application form. Is this acceptable, or does the notice need to be in a form the applicant can keep?
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TryingToComply
CRCM

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Lending Compliance
#2257842 - 08/06/21 10:37 PM Re: Disclosure of Right to Request Specific Reasons TryingtoComply
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 77,548
Galveston, TX
It has to be in a form that the borrower can keep. I know banks that do make that part of a commercial application, but they make it as a tear-off with instructions to do so and retain. Whether they do or not is up to them.
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#2257853 - 08/09/21 02:12 PM Re: Disclosure of Right to Request Specific Reasons TryingtoComply
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,455
Bloomington, IN
We have the Request for Specific Information, ECOA Notice and the Notice of Right to Receive Copy of Appraisal all on one page with a note at the top of the page it is for the applicant's records.
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The opinions expressed are mine and they are not to be taken as legal advice.

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