According to the FCRA, a consumer is required to disclose the credit score that was utilized in taking unfavorable action, as well as any associated information about the credit score.
What is consumer?
The term “consumer” means purchasing a product or service for the purpose of personal use. The consumer are consume the product and services. The consumer are buying the product and services with exchange of money.
A financial institution must disclose to the consumer in accordance with the FCRA. The RBPN is necessary if a financial institution offers various rates depending on the applicant's credit score.
As a result, the five factor number to take the consumer report on inquiry on the credit score.
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