I searched previous threads and couldn't find the answer, so here goes: Two applicants (not married) for loan. Application is denied for borrower 1 credit. Do we send Adverse Action Notice to both, or just the one whose credit affected the decision? Please advise. Thanks!

Reg. B says you can send one to both.
FCRA says each must have a separate notice if a Fair Credit disclosure is applicable to either.

thank you!

Expounding on your answer, if we send out separate notices, do we disclose to the co-borrower the reasons for the decline (borrower's adverse credit)?

Yes.

thanks!