Content of notification to credit consumers must contain:
A.
Statement of the action taken
B.
Name and address of creditor
C.
Statement of the specific reasons for the adverse action or a disclosure of the applicant's right to receive the specific reasons within 30 days of a request. The request for specific reasons must be made within 60 days of the receipt of the adverse action notice.
D.
Statement of the specific reasons for the adverse action or a disclosure of the applicant's right to receive the specific reasons within 15 days of a request. The request for specific reasons must be made within 30 days of the receipt of the adverse action notice.
This option aligns with the requirements for the content of notification to credit consumers as outlined in regulations such as the Equal Credit Opportunity Act (ECOA). It specifies the inclusion of a statement of the specific reasons for adverse action or information about the applicant's right to request those reasons within a certain timeframe.
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Cam22
4 months ago