When adverse action is taken based on any information contained in a consumer report, the financial institution must provide the consumer with: - Written notice of the adverse action; the CRA's name, address, and telephone number; a statement that the CRA did not make the decision; and a notice of the consumer's right to obtain a free copy of the consumer report

• A. Written notice of the adverse action, the CRA's contact information, a statement that the CRA did not make the decision, and the consumer's right to obtain a free copy
• B. Only the adverse action notice
• C. Only the CRA contact information
• D. Only the right to obtain a free copy

Answer: (A)

When adverse action is taken based on information in a consumer report, you must send a complete adverse action notice that includes four elements. First, the written notice of the adverse action itself. Second, the name, address, and telephone number of the consumer reporting agency that supplied the information. Third, a statement that the consumer reporting agency did not make the decision to take the adverse action (and thus cannot provide the specific reasons for it). Fourth, a notice of the consumer's right to obtain a free copy of the consumer report from the agency. This combination ensures the consumer can contact the CRA, understand the action wasn’t the CRA’s decision, and review the underlying report. Choices that omit any of these elements don’t meet the requirement.