American Indian, Alaska Native, Asian, Black or African American, Native Hawaiian, or other Pacific Islander, White
What are the categories of Race?
100
This person may serve as a co-signor, but the Creditor may NOT require that this person be the co-signor.
What is a Spouse?
100
A refusal to grant credit in the amount or terms request in the Application
What is Adverse Action?
200
Includes every aspect of the Applicant's dealings with the Creditor
What is a Credit Transaction?
200
Anyone that can reasonably pay for the obligation, not considering any of the information provided by the applicant. This individual is financially sound enough to fully cover the debt request by the Applicant.
What is a Co-signor, Guarantor, or Additional Applicant?
200
Termination of existing account or an unfavorable change in terms if same action in not taken
What is Adverse Action?
300
Information Requirements
What is known as the information that is required by the creditor to make a sound credit decision?
300
If the Spouse will be permitted to use the account or if the spouse will be contractually liable on the account.
What are the conditions in which a creditor can request information about a spouse?
300
Any change in terms or an account which is expressly agreed to by the applicant
What is NOT Adverse Action?
400
Only ask about this person IF they are a joint obligor on the loan
What is a Spouse or Former Spouse?
400
The efforts that are administered by AFCB to retrieve any property that must be seized because the applicant(s) have violated the terms of the credit agreement that was made during the loans originations and closing.
What are Collection Procedures?
400
Notifying the applicant of the action taken whether it is an approval, rejection, or a type of modification.
What is a Notification of Adverse Action?
500
Cannot be used as a reason for declining an application for credit unless it is insufficient
What is Income?
500
This person must sign or initial on the credit application in the required section to affirm his/her intent to apply for joint credit.
What is a joint applicant?
500
______uses a combined adverse action notice that informs the applicant of both the resources used and the reasons denied.