Pre-Approving for Unsecured Revolving Line

Answered by:

Question:

Our bank would like to pre-approve certain current bank customers for a unsecured revolving line (not accessed by a card) and send them the credit agreement through the mail for signature. What would be the compliance issues with this, and furthermore, could we use their existing credit report?

Answer:

There was a recent thread discussion on this. Look here.

First published on BankersOnline.com 5/9/11