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#1415509 - 07/15/10 06:10 PM updating an address based on credit bureau
sunshinebanker Offline
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Joined: Mar 2006
Posts: 233
What about the practice of updating customer addresses if there is an updated address on the credit bureau? I think that is a violation of the Fair Credit Reporting Act since that is not a legitimate purpose to pull a credit report- Also the bank shouldn't rely on that address as accurate unless the customer confirms that address. Does anyone disagree with my concerns?

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#1415775 - 07/15/10 10:55 PM Re: updating an address based on credit bureau sunshinebanker
Way Out West Offline
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Way Out West
Joined: Jun 2001
Posts: 246
San Francisco
A permissible purpose exists if you are obtaining a credit report on an existing customer for the purpose of "reviewing" the customer's loan or account. It's unclear from your question if that's what you're doing; however, it's always been my belief that "reviewing" is pretty broad.

As for changing the address, I agree with you; I wouldn't do it without confirming the changed address with the customer. Too many things can go wrong at the credit reporting agency. The problem is if you send the customer a letter (even a totally customer friendly one), the likelihood of them responding is slim to none. So develop a Plan B.

Good luck.
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#1419682 - 07/25/10 06:40 PM Re: updating an address based on credit bureau Way Out West
Princess Romeo Offline

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Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
I agree it would be a BAD practice to update an address based on a credit report.

A few years ago, husband and I were talked into applying for a store card (20% off a $400 purchase...) and the gal's printing was so sloppy that the "7" in our address got reported as a "1". Our bill went to a neighbor down the street (thank goodness an honest one who notified the postal carrier) and THEN a bunch of pre-approved credit card offers went to that same address. That was nightmare enough to get fixed - imagine if my other credit accounts changed the address also, and the neighbor was less than honest.
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