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#1621582 - 10/28/11 05:31 PM Spouse's credit report
chw Offline
Junior Member
Joined: May 2008
Posts: 29
Two sisters, the members of an LLC, applied for a loan, so are expected to guaranty. The first sister is a housewife, and relies on her husband's income. The lender pulls credit on her and her husband. He has a PFS signed by both which includes a statement that they are providing it for the purpose of guaranteeing credit and authorizing a credit report. Ultimately he did not require the husband to guaranty.
It seems he did not have a permissible purpose for the husband's credit report since he didn't require him to guaranty. On the other hand, he does have written authorization. Is this an FCRA violation?

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#1622374 - 10/31/11 08:13 PM Re: Spouse's credit report chw
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
Sounds more like a potential Reg B violation to me unless you are in a community property state.
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