QuestionJuly 27, 2025

Entities must provide an adverse action notice to consumers if they use information in a consumer report in whole or in part as a factor in making a decision that adversely impacts the consumer. Which of the following is not a consumer report for which an adverse action notice would not be required? Select the correct answer.then click Submit. A report about a consumer's deposit account history from Chex Systems ) A report with information about a bank's customer credit account history that the bank shares with a third party A report about a consumer's credit card account history from a credit reporting agency

Entities must provide an adverse action notice to consumers if they use information in a consumer report in whole or in part as a factor in making a decision that adversely impacts the consumer. Which of the following is not a consumer report for which an adverse action notice would not be required? Select the correct answer.then click Submit. A report about a consumer's deposit account history from Chex Systems ) A report with information about a bank's customer credit account history that the bank shares with a third party A report about a consumer's credit card account history from a credit reporting agency
Entities must provide an adverse action notice to consumers if they use information in a consumer report in whole or in part as a factor in making a decision that adversely impacts the consumer. Which of the following is not a consumer report for which an adverse action notice would not be required? Select the correct answer.then click Submit. A report about a consumer's deposit account history from Chex Systems ) A report with information about a bank's customer credit account history that the bank shares with a third party A report about a consumer's credit card account history from a credit reporting agency

Solution
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Answer

A report with information about a bank's customer credit account history that the bank shares with a third party Explanation 1. Identify Consumer Report A consumer report is defined as any communication of information by a consumer reporting agency bearing on a consumer's creditworthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living. 2. Analyze Each Option - **Chex Systems Report**: Typically considered a consumer report as it relates to deposit account history. - **Bank's Customer Credit Account History Shared with Third Party**: This is not a consumer report because the bank itself is sharing its own customer data, not through a consumer reporting agency. - **Credit Card Account History from Credit Reporting Agency**: Clearly a consumer report.

Explanation

1. Identify Consumer Report<br /> A consumer report is defined as any communication of information by a consumer reporting agency bearing on a consumer's creditworthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living.<br /><br />2. Analyze Each Option<br /> - **Chex Systems Report**: Typically considered a consumer report as it relates to deposit account history.<br /> - **Bank's Customer Credit Account History Shared with Third Party**: This is not a consumer report because the bank itself is sharing its own customer data, not through a consumer reporting agency.<br /> - **Credit Card Account History from Credit Reporting Agency**: Clearly a consumer report.
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