Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#346193 - 04/13/05 01:41 PM Deposit Denials
Anonymous
Unregistered

I heard in a CSR meeting the other day that they were sending out denial notices on check card applications. This would be where an existing customer made an application for a checkcard and due to excessive overdrafts the decision was to decline the card. A credit report is not run on the customer so my thought was that there is not a need to send a denial notice, but before I make that comment I wanted a second opinion on whether a denial notice is needed when a check card is declined?

Return to Top
Operations Compliance
#346194 - 04/13/05 02:20 PM Re: Deposit Denials
LoisLane Offline
Diamond Poster
LoisLane
Joined: Oct 2001
Posts: 1,570
Wisteria Lane..
No written denial notice is needed. If you obtained the overdraft history informtion from a CRA (instead of from your own internal records), you would need to send a disclosure under Fair Credit.
_________________________
And where is Superman when I need him?

Return to Top
#346195 - 04/13/05 03:32 PM Re: Deposit Denials
Anonymous
Unregistered

Thank you LoisLane for confirming!

Return to Top

Moderator:  Andy_Z, John Burnett