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Old 11-14-2008, 04:01 PM   #35
NorCalCoug
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[QUOTE=statman;295042]
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Originally Posted by NorCalCoug View Post
By law (Reg B) they have to disclose the reasons for adverse action within 30 days. The only time that this isn't required is if you are in "breach of contract" - in other words delinquent. If they can't give specific reasons then they are out of compliance. "

Lowering an un-utilized balance is NOT considered an "adverse action." It does not require compliance with Reg B - notification of the reason for adverse action.

If you called up and asked for a line increase, and they denied it, they'd have to notify you in writing why they did. But lowering an unused line is considered a positive risk avoidance action for both the company and you, and doesn't even require that they tell you they've lowered your line - except in your monthly statement.

Sorry, but you're wrong. A non-customer initiated line reduction on an active account in good standing is VERY much considered an adverse action and falls under Reg B.

Last edited by NorCalCoug; 11-14-2008 at 04:31 PM.
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