Use for: Adverse action on deposit accounts based in whole or in part on information in a credit report.
- Rev. 7/23.
- It is revised to clarify that it cannot be used if the deposit account has a credit feature attached. In that case, use WCUL #82029 Adverse Action Notice (Credit-Related Transactions).
- This form is subject to the adverse action notice requirements of the Fair Credit Reporting Act (FCRA) at 15 U.S.C. § 1681m.
- Since this form is not to be used for credit related transactions, it should not be subject to the Regulation B requirement to list enforcement agencies. As a result, it is not affected by the enforcement agency contact information updates that are being made to WCUL #82029 – Adverse Action Notice (Credit-Related Transactions).
- See ii Release No. 0126 – Fair Credit Reporting Act for more information.
- See Compliance Courier dated TBD.
- 8.5 x 11″, 1 copy = 1 side.