A mortgage file is paused during a secondary-market screen because of FCRA Adverse Action Notice. Which answer should choose the compliant next step?
Correct Answer
C) Keep consumer-report information within authorized use
Consumer reports require a permissible purpose and proper FCRA/Reg V handling. The best answer is "Keep consumer-report information within authorized use".
Why This Is the Correct Answer
Consumer reports require a permissible purpose and proper FCRA/Reg V handling. The best answer is "Keep consumer-report information within authorized use".
More Federal Laws Questions
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A quality-control reviewer flags a case because a compliance analyst asks why covered mortgage application data is collected. What correction is appropriate?
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