ID Theft Red Flags FAQ IVA1 – What is a “notice of address discrepancy?”

Compliance > Lending > FCRA
Q:  What is a “notice of address discrepancy?”
 
A:  A “notice of address discrepancy” is a notice sent to a user of a consumer report by a nationwide consumer reporting agency (“NCRA”) notifying the user that the address provided by the user to obtain the report “substantially differs” from the address the NCRA has in the consumer’s file.  The FCRA does not define the phrase “substantially differs” nor does it direct the Agencies to define this phrase as a part of the rulemaking on address discrepancies.
 
 
ADDITIONAL INFORMATION:
This information was obtained from the Interagency FAQs for Identity Theft Red Flags and Address Discrepancies - https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20090611a1.pdf
 

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