Reasons for Denying a Loan

When you deny a loan, you are required to send an Adverse Action Notice.  Regulation B goes on to state:

1) you must disclose the principal reasons for the denial; and,
2) the reasons must be specific.  While this may seem pretty straightforward, there is often a lot of confusion, or maybe just a general misunderstanding, as to what this entails.

David explains more in the video.

Published
2021/04/26

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