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Re: Adverse Action Needed When Blocking Credit

Home Forums Equal Credit Opportunity Act/Regulation B Adverse Action Needed When Blocking Credit Re: Adverse Action Needed When Blocking Credit

#2806
JGo9
Participant

cbgrayson,

First off you probably would need to check your terms with your Cash Reserve agreement with the customer and see if this is addressed at all. I don’t think you would have to give a Adverse Action Notice, but you would need to notify your customer that you’ve frozen the line.

I hope this helps,

Jonathan Goforth