Thread Starter: InFairness, CRCM
Title: Re: Ok to pull credit on Building Contractor?
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Is the report you're pulling on the owner of the contracting firm as an individual? If so, you have to meet one of the permissible purposes under 15 USC 41 at 1681b and 604. Those purposes include:
- If authorized in writing by the consumer;
- In response to a court order or subpoena;
- For employment purposes with written authorization;
- In connection with a credit or insurance transaction;
- A legitimate business need for the information in connection with a transaction initiated by the consumer, to review an account to determine whether the consumer continues to qualify, for use by a potential servicer or investor, or for business purpose transactions if the consumer is or will be personally liable for the business debt;
- To obtain prescreened consumer reports to make firm offers of credit or insurance, unless consumers have opted out of inclusion on prescreen lists.
Without contractor authorization, I don't think you meet any of these requirements.
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