One of the banks wants to conduct targeted mailings for a particular loan product based on the past history of the demographic that has bought this product in the past. In this case that would mean marketing to individuals based on age, over 50 years of age. Would this be a fair lending issue, marketing based on age which is a prohibitive basis?
Can a bank report a customer to a collection agency, ChexSystems, or credit bureau if the account had an overdraft limit?
When I pull a ChexSystem report and the customer is on ChexSytems, can I tell him what is showing? I know I have to give that person an adverse action notice if I am asked what is on there.
May we pull a credit report for an employee at the request of the employee?
Is it permissible to report negative credit, to a credit bureau, on an individual that is a guarantor on a commercial loan to a corporation? If it is permissible, does the sword cut both ways? In other words, would you also have to report positive credit on all other commercial lines for that individual?
TransUnion is offering its most recent fraud protection program directly to businesses - a proactive and reactive range of partnering services to both protect data and mitigate losses should data b
We are using a paperless system to take applications for deposit accounts. We would like to know if we can pull a credit bureau report at the time of opening a savings account without the customer's signature?
During the next six to ten months, the FACT Act provisions will continue to take effect.
Do you have to state a reason on the adverse notice for deposit accounts declined due to credit under FCRA? Where can I find reference material for deposit declines?
I am trying to clarify what I have read on several notes about obtaining credit bureaus to open new accounts. Do I understand correctly that if we are opening a checking or savings account that we have a clear legitimate purpose for pulling a credit bureau when opening a new account but a CD is a little more vague?