Home › Forums › Equal Credit Opportunity Act/Regulation B › Adverse Action Needed When Blocking Credit › Re: Adverse Action Needed When Blocking Credit
August 10, 2011 at 10:28 pm
#2806
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