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Multiple Credit Scores

Question: 
If you use a vendor that provides scores from all 3 bureaus and you only use the score/reasons from one bureau for the denial, do you use that specific bureau's name and address or the actual vendor that supplied the report for your adverse action?
Answer: 

The credit score information is required by the FCRA. When a creditor has based its adverse action decision on reports from multiple consumer reporting agencies, the CFPB expects that the creditor would replace the general reference to "this consumer reporting agency" with a more specific reference to the name of the consumer reporting agency from which the creditor obtained the score being disclosed, to avoid ambiguity and consumer confusion. The specific vendor is the one that can respond to consumer inquiries about the score.
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Learn more about Jack Holzknecht’s webinar
2017 Providing Accurate and Timely Adverse Action Notices

First published on 03/18/2018

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