This article reviews the Regulation B and FCRA requirements for adverse action notices – an NCUA supervisory priority for 2019.
On its list of supervisory priorities for 2019, the National Credit Union Administration (NCUA) has included compliance with Regulation B’s adverse action notice requirements. The NAFCU Regulatory Compliance team has seen an increase in the volume of adverse action questions, which makes sense due to the emphasis the agency is placing on adverse action notices. These are some of our recent blogs on the topic: Prequalifications and Adverse Action Notices, Incomplete Applications and Adverse Actions and Joint Applicants and Adverse Action Notices. The intent here is to provide a further analysis of adverse action notices that a credit union can use to help ensure it is satisfying the requirements.
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