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#395680 - 08/03/05 01:31 PM Increase in debit card limits
KYAuditor Offline
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KYAuditor
Joined: Jan 2003
Posts: 138
Kentucky
If a customer is denied an increase in his debit card limits based on credit score, are we required to send the notice? I was thinking not since it is not an extension of credit, but then I was told that we have to send them the written notice.

Help!!
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#395681 - 08/03/05 01:46 PM Re: Increase in debit card limits
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,617
Galveston, TX
Adverse action includes any action that is adverse to the interests of the consumer. So, a notice would be in order. It's the same principle as denying them at account opening due to something on Chexsystems or similar CRB.
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#395682 - 08/04/05 12:33 PM Re: Increase in debit card limits
KYAuditor Offline
100 Club
KYAuditor
Joined: Jan 2003
Posts: 138
Kentucky
Thanks! I know I can always count on BOL when I need answers.
_________________________
Just my 2 cents worth--for what its worth!!

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