Thank you for applying to us for a loan. After carefully reviewing your application, we are sorry to advise you that we cannot grant a loan to you at this time. If you would like a statement of specific reasons why your application was denied, please contact our compliance manager shown below within 60 days of the date of this letter. We will provide you with the statement of reasons within 30 days after receiving your request.
We make decisions on whether to approve or deny loan applications based on various factors and sources of information.
A. Our decision on your loan application may have been based in whole or in part on information obtained from an affiliate or from an outside source other than a consumer reporting agency. Under the principles of the Fair Credit Reporting Act, you have the right to make a written request, no later than 60 days after you receive this notice, for disclosure of the nature of this information. Such requests should be directed to the Compliance Manager above.
B. Our decision on your loan application may have been based in whole or in part on information obtained in a report from a consumer reporting agency. If it was, the consumer reporting agency’s name and contact information will be listed below. You have a right under the principles of the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency.