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Auto Dealership/Recordkeeping of Credit Reports

Answered by: 
Randy Carey

Question: 
When an auto dealership pulls a consumer's credit report is it required to keep a copy on file? If so, for how long?
Answer: 

If the dealership is considered a creditor, it should retain all information gathered as part of the credit application for a period of 25 months to comply with the retention requirements of Reg B.

First published on BankersOnline.com 4/03/06

First published on 04/03/2006

Filed under: 
Compliance
Filed under compliance as: 
Auto
Credit Report
IT

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