When you deny a request for credit, Regulation B says the primary applicant must receive all the reasons for the denial. That means the reasons the primary applicant was denied, as well as, the reasons any co-applicant(s) was denied. When we train lenders, this always seems to make them a little nervous. They believe doing so may violate an applicant’s privacy.
David explains more in the video.
Published
2021/04/11