OCC / FCRA – 33. Must the bank explain the information in the consumer’s file?

Compliance > FCRA
Q:  Must the bank explain the information in the consumer’s file?
 
A:  Yes. It must provide trained personnel to explain any information furnished to the consumer (16 CFR 610(c)).
 
 
This Q&A was obtained from the Comptroller’s Handbook on Fair Credit Reporting that may be found here:  https://www.occ.gov/publications-and-resources/publications/comptrollers-handbook/files/fair-credit-reporting/index-fair-credit-reporting.html
 

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