suggested policy for FCRA

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I have been assured by the servicing department that they are a "go" for this. But who knows, right? I have a feeling we are ALL going to be fumbling through this for the first few weeks.

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I have a question regarding the suggested policy that Kirchman posted. Under the section "Reporting Negative Information," it states that "the Bank shall mail a copy of that notice to all pre-existing consumer loan customers with the [fill in mass mailing event, such as the annual privacy disclosure or a planned marketing mailing]." "That notice" is the Federal Reserve Model B-1. Is anyone else sending this notice out to all pre-existing customers with loans? We were only planning on adding this wording to our current letters sent out to members when they're late, delinqent, etc.

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I have a question regarding the suggested policy that Kirchman posted. Under the section "Reporting Negative Information," it states that "the Bank shall mail a copy of that notice to all pre-existing consumer loan customers with the [fill in mass mailing event, such as the annual privacy disclosure or a planned marketing mailing]." "That notice" is the Federal Reserve Model B-1. Is anyone else sending this notice out to all pre-existing customers with loans? We were only planning on adding this wording to our current letters sent out to members when they're late, delinqent, etc.

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Ok...I must have been sleeping again when this thing started. But I thought that you only had to advise the consumer about the Negative Information reporting prior to or no later than 30 days after furnishing the negative information to a consumer reporting agency. We are posting it to our second default notice.........only......no mass mailing......I don't remember seeing anything about "mass mailing in separate envelopes", but hey...as I said, guess I dozed off.....could someone point me to that information.

Thanks.

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