Are negative notices ONLY supplied to consumers that are applying for loans for personal, family and household purposes?

We do the following...(which would include consumers on business purpose loans)

Borrower: If we send derogatory information to the credit bureau, a notice goes to the customer.

Endorser: If we send derogatory information to the credit bureau AND the endorser has the REPORT TO CR BUREAU set to YES, the endorser receives a notice.

Late Charge Notices:

Endorsers receives a late notice if the loan goes 30-days past due

Borrowers receives a notice after the loan goes past due either 11 or 15 days.

The negative informatin notice is required for "customers" who you may report negative informaiton about to a consumer reporting agency.


(i) NEGATIVE INFORMATION.--The term "negative information" means information concerning a customer's delinquencies, late payments, insolvency, or any form of default.
(ii) CUSTOMER FINANCIAL INSTITUTION.--The term "customer" and "financial institution" have the same meanings as in section 509 Public Law 106--102.

So "customers" would include individuals applying for business loans?