Learn More - Click Here!

Thread Options
#807128 - 08/31/07 03:59 PM Notice of Action Taken - VISA CHECKcard
OnTheEdge Offline
Diamond Poster
Joined: Apr 2002
Posts: 1,677
SmallTown, USA
I know that if we use info in a credit report to deny a VISA CHECKcard that we need to send a notice stating that info in credit report contributed. Is it sufficient to merely state "We are unable to grant your request at this time due to information in your credit report"? Are we required to provide the name and address of credit bureau?
_________________________
The opinions expressed are mine and do not necessarily reflect those of my employer.

Return to Top
Operations Compliance
#807704 - 08/31/07 07:56 PM Re: Notice of Action Taken - VISA CHECKcard OnTheEdge
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
You must fully comply with the FCRA requirement when ever you use a consumer report adversely against a consumer. You don't have to tell them why (that's a credit requirement), but you must provide the disclosure, name and address of the consumer reporting agency (just like a credit denial).
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top

Moderator:  Andy_Z, John Burnett