Providing Credit Score Information
We received the following question for the “Member Requests” portion of our September Monthly Connection:
The FCRA says you only have to disclose that you pulled a credit report if that information was used in whole or in part to make the credit decision on an Adverse Action Notice. But, also in the FCRA is the requirement to provide a Risk Based Pricing Notice, or a Credit Score Exemption whereby you provide a Credit Score Notice. Since we do not use a risk-based pricing notice, does that mean every consumer must receive their credit score if a credit report was pulled in connection with a consumer purpose loan application?
Jerod gives the answer in the following video taken from the Monthly Connection.
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Published
2021/09/30
Jerod Moyer
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!