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I’m inquiring if a lender is required to obtain a signed authorization letter to pull a credit report prior to taking an application. PZ
A signed authorization from the consumer is not required before pulling a credit report in connection with a legitimate business transaction initiated by the consumer (e.g. application for a loan). However, some financial institutions may choose to have a policy in place that requires written authorization.
See section 604 of the FCRA for a list of permissible purposes for pulling credit reports and what is required.
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