Re: Non Authorized Inq Letter
11-15-2007 11:12 AM
A recent case in Washington state (I think) determined that there is no "credit transaction" when a CA is reviewing or collecting on an account, and therefore the CA does not have PP.
For those interested.
§ 604. Permissible purposes of consumer reports[15 U.S.C. § 1681b]
(a) In general. Subject to subsection (c), any consumer reporting agency may furnish a
consumer report under the following circumstances and no other:
(3) To a person which it has reason to believe
(A) intends to use the information in connection with a credit transaction
involving the consumer on whom the information is to be furnished and
involving the extension of credit to, or review or collection of an account
of, the consumer
Bartender, bring another round of FICOtinis please!
9.4.2011: TU 805. EQ 815.