List the reasons in a credit file for an adverse-action notice the lawyer will write
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List factors the credit file actually states, each with the page. Do not rank them and do not draft the notice to the applicant.
- What the lawyer must review
- 15 U.S.C. § 1691(d) entitles an applicant against whom adverse action is taken to a statement of reasons. A creditor complies by providing the statement in writing as a matter of course, or by giving written notice of the adverse action that discloses the right to a statement of reasons within thirty days after the creditor receives a request made within sixty days after the notice, and the identity of the person or office from which the statement may be obtained. The statement meets the section only if it contains the specific reasons for the action taken. Adverse action, for this subsection, means a denial or revocation of credit, a change in the terms of an existing credit arrangement, or a refusal to grant credit in substantially the amount or on substantially the terms requested. You write the notice. Regulation B was not opened.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes preparing preliminary structure or wording. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Verify the applicable jurisdiction and the version of each relevant law, rule or instrument in force at the material time.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.