Are you properly denying applicants?
Have you ever had an applicant that required an adverse action letter?
Maybe their credit score didn’t meet your criteria or their monthly income was below your requirement. Whatever the reason was, did you make sure to send a proper adverse action letter or notice – because if not, you are violating your consumers rights under the Fair Credit Reporting Act. You need to know constitutes the need for an adverse action notice and what are the best ways to go about providing one or else you might end up with a very disgruntled consumer.