Which adverse action notice (AAN) is required? Equal Credit Opportunity Act (ECOA/Regulation B), Fair Credit Reporting Act (FCRA), both, none? This Quick Compliance Guide quickly explains the definition of adverse action, which AAN is required when, who gets an AAN, notice contents and more.
QCGs are a great training supplement as well as a handy checklist when drafting and/or reviewing your adverse action notices. Each topic is presented logically and broken down in a convenient and easy to follow manner. Great for compliance officers, auditors and lending staff!