If a Consumer's Application for Credit Is Denied, the Creditor

question 461

Multiple Choice

If a consumer's application for credit is denied, the creditor must provide written notice to the consumer containing what information?

• A) the name and address of the federal agency regulating compliance by the creditor
• B) a list of other possible sources of credit
• C) either the specific reasons for the action taken or disclose the applicant's right to receive a statement of reasons
• D) the name and address of the federal agency regulating compliance by the creditor and either the specific reasons for the action taken or disclose the applicant's right to receive a statement of reasons
• E) the name and address of the federal agency regulating compliance by the creditor and either the specific reasons for the action taken or disclose the applicant's right to receive a statement of reasons and a list of other possible sources of credit