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Posts: 2,050
Registered: ‎04-17-2007
Re: Non Authorized Inq Letter

hstone wrote:
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

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.
Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.