Let's say there is a customer who is a dentist and he does $1.3 to $1.4 million in business each year. Because of the way that insurance companies pay him, his billable income is reduced to below a million dollars each year.
If we were to deny a request for credit and the officer is not wanting to send out an adverse action letter because he has already notified him personally. Does the regulation require the adverse action letter in a case like this?
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