Under 12 CFR 1002.9(a)(1)(i), (a)(2), (b)(1), (b)(2), and (c), creditors are required to provide notice to an applicant within 30 days of receiving a completed application regarding approval, counteroffer, or adverse action, and must provide sufficient information including specific reasons for any adverse action taken.

Authors

• Person: Not available Organization: Consumer Financial Protection Bureau
  Fair Lending Report of the Consumer Financial Protection Bureau

Sources

• Fair Lending Report of the Consumer Financial Protection Bureau www.federalregister.gov Consumer Financial Protection Bureau via serper

Referenced by nodes (2)

• Equal Credit Opportunity Act concept
• Regulation B concept