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Charge Fee for Soft Credit Pull Prior to App?

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Question: 
Can a lender charge a customer for the cost of a soft credit pull prior to an application for example for a prequal or preapproval? I have heard that there are no federal prohibitions on doing this, but I would like to have more than one perspective please.
Answer: 

There are no federal prohibitions on doing this.

First published on 05/10/2020

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