If the financial institution does not risk price based upon scores, there is no requirement for a notice, including an exception notice. The notice states that you do risk price based upon score.
Credit Score Disclosure Exception Notice
Our bank has a consumer line of credit product that is payable on demand with no set maturity date but there is an annual review. During the annual review, a credit report is pulled. We do not utilize risk-based pricing and have chosen to use the Credit Score Disclosure Exception Notice. Is this notice required in this case?
First published on 03/19/2017