Answer:
Answer by David Dickinson:The FRB’s new address for denial notices also requires the phone number to be added to the adverse action notice. Here’s a link to the Federal Register containing the address/phone number.
It states: "Creditors have until October 1, 2008, the mandatory compliance date, to include the new address and telephone number on their adverse action notices." The second to last paragraph has the address and phone number:
Federal Reserve Consumer Help Center
P.O. Box 1200,
Minneapolis, MN 55480
Toll-free number: (888) 851-1920
Fax number: (877) 888-2520
TDD number: (877) 766-8533.
Answer:
Answer by John Burnett:The address is one that is to be included on the adverse action notices as the Fed's address for consumers to contact to inquire about your bank as creditor (if you are a state-chartered, FR-member, bank). There is no requirement that you submit an adverse action notice to that address.
First published on BankersOnline.com 11/19/07
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