Marcus applies for a large life insurance policy. The insurer orders an investigative consumer report to gather information about his character and general reputation. The insurer sends the mandatory initial notification to Marcus. Two days later, Marcus sends a written request to the insurer asking for specific details regarding the nature and scope of the investigation. Under the Fair Credit Reporting Act (FCRA), what is the insurer's obligation regarding this request?
- The insurer must provide a complete and accurate written disclosure of the nature and scope of the investigation within 5 days of receiving the request.Cevap
- BThe insurer must provide the requested details only if the final underwriting decision results in an adverse action.
- CThe insurer must instruct Marcus to contact the consumer reporting agency directly to obtain the investigation details.
- DThe insurer must deliver the written disclosure within 3 days of receiving his request, mirroring the initial notification timeframe.
Cevap
The insurer must provide a complete and accurate written disclosure of the nature and scope of the investigation within 5 days of receiving the request.
The Fair Credit Reporting Act (FCRA) gives consumers the right to request a complete and accurate written disclosure of the nature and scope of an investigative consumer report. When a consumer makes this written request, the entity that requested the report (the insurer) must provide this disclosure within 5 days of receiving the request or within 5 days of when the report was first requested, whichever is later.
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FCRA Investigative Consumer Report Disclosures