Printing an Adverse Action Notice
We're here to help! For additional support on this topic or for more information on how to get started reach out to our Support Team at support@dealercenter.com or call us at 888-669-2669.
We're here to help! For additional support on this topic or for more information on how to get started reach out to our Support Team at support@dealercenter.com or call us at 888-669-2669.
The Equal Credit Opportunity Act (ECOA), requires a creditor who takes adverse action on a consumer’s credit application to provide a “statement of reasons” for the action.
Adverse action notice is required when:
According to the ECOA, any denial of credit, or a decision on behalf of the dealership not to even submit a credit.
You can find the customer you are printing the Adverse Action for by using the Search Box:
On the Customer record, select the compliance tab
1. On the Customer record, select the Compliance tab
2. Click the Print option next to Adverse Action Letter in the Compliance Checklist section.
3. Check the Adverse Action Reasons from list
4. Print the Adverse Action Letter
Quick Tip: When an Adverse Action notice is printed the Adverse Action indicator icon will display a green checkmark: