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#2267083 - 03/02/22 03:16 PM GMI
SallyGirl Offline
Member
Joined: Aug 2014
Posts: 74
Can the GMI statement be provided to applicants in a separate writing or must it be provided orally?

Reg B states the creditor must "inform" the applicant why the information is requested. Does Reg C require the statement be provided orally?

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#2267094 - 03/02/22 04:43 PM Re: GMI SallyGirl
Oursisnottoreasonwhy Offline
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Oursisnottoreasonwhy
Joined: Nov 2004
Posts: 498
Central Illinois
I don't believe it needs to be orally. The GMI form typically states why the information is being requested.

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#2267099 - 03/02/22 05:04 PM Re: GMI SallyGirl
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,864
Cape Cod
Review the first three instructions that appear in Appendix B to Regulation C. If you are completing the application for the applicant in an in-person interview or by phone, you will have to read the instructions for the GMI collection.
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John S. Burnett
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