A mortgage application is denied. Under federal credit law, the lender must provide a written notice explaining the denial and the applicant's rights. What is that notice called?
Correct Answer
D) Adverse action notice
Adverse action notice is correct because the facts match a notice that explains a creditor's denial or other adverse decision on a credit application and informs the applicant of important rights. That is the best description of the relationship, right, or legal concept tested here.
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