Credit Decision Adverse Action Notification Letter | Practical Law

Credit Decision Adverse Action Notification Letter | Practical Law

A letter to be sent to consumer applicants who are denied credit based on information contained in their credit report. This letter complies with the adverse action notice requirements of the Equal Credit Opportunity Act (ECOA) and the Fair Credit Reporting Act (FCRA). This Standard Document includes integrated notes with important explanations and drafting tips, including a discussion of notification requirements, and is based on federal law.

Credit Decision Adverse Action Notification Letter

Practical Law Standard Document w-040-1466 (Approx. 6 pages)

Credit Decision Adverse Action Notification Letter

by Practical Law Finance
MaintainedUSA (National/Federal)
A letter to be sent to consumer applicants who are denied credit based on information contained in their credit report. This letter complies with the adverse action notice requirements of the Equal Credit Opportunity Act (ECOA) and the Fair Credit Reporting Act (FCRA). This Standard Document includes integrated notes with important explanations and drafting tips, including a discussion of notification requirements, and is based on federal law.