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#984955 - 06/30/08 04:20 PM FCRA Notice on Adverse action and gurarantors
Reg reader Offline
Junior Member
Joined: Sep 2005
Posts: 33
My understanding from reading the FTC opinion letter dated 7/14/00 is that we would not be required to give guarantors an adverse action notice (including the FCRA notice) even if we pulled a credit bureau on guarantor and we denied the applicant based on the guarantor's credit report. Is this everyone's understanding as well or is there a more recent opionion to the contrary?

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#984990 - 06/30/08 04:55 PM Re: FCRA Notice on Adverse action and gurarantors Reg reader
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,704
Bloomington, IN
For the purpose of the FCRA AAN guarantors are not applicants but co-applicants/signers are.
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The opinions expressed are mine and they are not to be taken as legal advice.

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