fcra denial notice rules

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Is the Summary of Your Rights Under the Fair Credit Reporting Act required solely for denied employment applications or must the bank provide it under other circumstances, such as a denial of credit?

That specific form is required only for denied employment. What information must be provided in the event of a non-employment adverse decision, such as a credit denial, is addressed in §615(a). These adverse action notices must provide: information about the consumer reporting agency providing the report; statements that the consumer reporting agency did not make the decision, that the consumer has right to free copy of report, and that the consumer may dispute inaccurate information; and information about any credit score used. The list does not include the Summary of Your Rights Under the Fair Credit Reporting Act. (May 2024)

Is the Summary of Your Rights Under the Fair Credit Reporting Act required solely for denied employment applications or must the bank provide it under other circumstances, such as a denial of credit?

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