Adverse Action Notices: Giving the Reasons for Denial

Under Regulation B, when you take adverse action in connection with an application for a credit product or service, you must provide an adverse action notice. There are several things that are required to be included. For example, a statement of the action taken, the creditor’s name and address, the ECOA statement, the name and address of the bank’s primary regulator, etc. You also have to tell the applicant the reasons for the adverse action. That’s usually not that difficult to do but did you know there are actually a couple of different ways to do this?

David explains more in the video.

Ready to learn more? JOIN US for our webinar, “Adverse Action Notices”. Featured topics include:

• Regulation B & Fair Credit Reporting Act Notification Requirements
• The Who, What, Where, When & How of:
• Denied Applications
• Notices of Incompleteness
• Counteroffers / Counteroffer Denials
• Withdrawals
• Notification Timing Requirements
• Fair Lending Intersections
• Multiple Applicants, Record Retention & Much More! 

Published
2022/05/09