{"id":2655,"date":"2021-10-15T16:30:14","date_gmt":"2021-10-15T16:30:14","guid":{"rendered":"https:\/\/albanknews.com\/?p=2655"},"modified":"2021-10-15T16:30:30","modified_gmt":"2021-10-15T16:30:30","slug":"2655","status":"publish","type":"post","link":"https:\/\/albanknews.com\/?p=2655","title":{"rendered":"Compliance Q&#038;A: Credit Scores and Reg V"},"content":{"rendered":"<p><strong>Question: <\/strong>Our bank uses the exception notice for the Regulation V, risk-based pricing credit score disclosures. If a loan applicant withdraws the loan request, is the bank still required to deliver the credit score exception notice to the applicant?<\/p>\n<p><strong>Answer:<\/strong> Regulation V, \u00a7 1022.72, only requires providing the risk-based pricing notice for loans where the terms of credit are set in accordance with the applicant\u2019s credit score. Therefore, there is no requirement to provide the notice for loans that are not approved.<\/p>\n<p>Regulation V, \u00a7 1022.72 &#8211; <u><a href=\"https:\/\/www.consumerfinance.gov\/rules-policy\/regulations\/1022\/72\/\">https:\/\/www.consumerfinance.gov\/rules-policy\/regulations\/1022\/72\/<\/a><\/u><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call (888) 353-3933 or email <a href=\"mailto:info@compliancealliance.com\">info@compliancealliance.com<\/a> and ask for our Membership Team.<\/strong><\/p>\n<p><strong>Not a member?<\/strong> Learn more about membership with Compliance Alliance by attending one of our live demos:<\/p>\n<ul>\n<li><a href=\"https:\/\/compliancealliancemeetings.webex.com\/webappng\/sites\/compliancealliancemeetings\/meeting\/info\/ec3cde5ca8f748c6a2797a9027f7b71c\">Live Demo on Tuesday,\u00a0October 19<sup>th<\/sup> at 10:00 am CT<\/a><\/li>\n<li><a href=\"https:\/\/compliancealliancemeetings.webex.com\/webappng\/sites\/compliancealliancemeetings\/meeting\/info\/292473e72ad94d1bb6620ea1eea33c5d\">Live Demo on Thursday,\u00a0October 21<sup>st<\/sup> at 1:00 pm CT<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question: Our bank uses the exception notice for the Regulation V, risk-based pricing credit score disclosures. If a loan applicant withdraws the loan request, is the bank still required to deliver the credit score exception notice to the applicant? Answer: Regulation V, \u00a7 1022.72, only requires providing the risk-based pricing notice for loans where the terms of credit are set in accordance with the applicant\u2019s credit score. Therefore, there is no requirement to provide the notice for loans that are not approved. Regulation V, \u00a7 1022.72 &#8211; https:\/\/www.consumerfinance.gov\/rules-policy\/regulations\/1022\/72\/ &nbsp; Compliance Alliance offers a comprehensive suite of compliance management solutions. To [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1070,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[33,23],"tags":[],"class_list":["post-2655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-compliance-qa","category-publications","has_thumb"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/albanknews.com\/wp-content\/uploads\/2017\/11\/compliance-alliance.png?fit=800%2C800&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/s4Y3P2-2655","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/2655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2655"}],"version-history":[{"count":2,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/2655\/revisions"}],"predecessor-version":[{"id":2658,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/2655\/revisions\/2658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/media\/1070"}],"wp:attachment":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}