If an applicant has been denied credit, federal government regulations require dealers to inform applicants why they have been denied. NCC’s adverse action solutions for auto dealers provides them with the necessary tools to ensure these notices are processed and delivered in compliance with the regulations.
According to federal rules, if “adverse action” is taken against a consumer based on information in a consumer report, the company must inform the customer; the most common type of ‘adverse action’ is, in fact, a denial of credit.
Under the Equal Credit Opportunity Act and the Fair Credit Reporting Act (FCRA), “adverse action” is defined as:
As a leader in the industry, NCC works hard to provide innovative solutions for its clients. To that end, NCC’s adverse action solutions for car dealers include two options for helping dealerships comply with adverse action requirements:
NCC’s adverse action solutions for auto dealers are just another way NCC works in partnership with its dealer clients to help ensure their continued success.
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