Posted By: ksm
Deposit Adverse Action - 09/24/07 09:20 PM
I Want to see if this denial was documented ok.
Sue Smith and Tom Thomas came in to open a checking account. Sue's credit report came back with several collection items, so we provided her with a Notice of Action taken and disclosed the credit bureau company we used to pull the report.
Tom's report came back with no matches. (Since he was born in 1984, I find this a little unusual.) He was provided a seperate Notice of Action taken marked we are unable to approve you request and marked that our decision was based on the credit bureau.
No reason for the action was listed on either notice. Is this acceptable? It is my understanding we do not need to mark reasons for the denial. Is there a problem with having a section called Reason for Action Taken if we do not mark any reasons?
Sue Smith and Tom Thomas came in to open a checking account. Sue's credit report came back with several collection items, so we provided her with a Notice of Action taken and disclosed the credit bureau company we used to pull the report.
Tom's report came back with no matches. (Since he was born in 1984, I find this a little unusual.) He was provided a seperate Notice of Action taken marked we are unable to approve you request and marked that our decision was based on the credit bureau.
No reason for the action was listed on either notice. Is this acceptable? It is my understanding we do not need to mark reasons for the denial. Is there a problem with having a section called Reason for Action Taken if we do not mark any reasons?