Answer:
Under the Fair Credit Reporting Act, you don't have a permissible purpose for obtaining a consumer report on an individual who is merely an authorized signer on an account, unless that individual gives you an authorization to do so. Some banks have incorporated verbiage in their signature cards that, in the opinion of the bank's legal counsel, provides that authority as to any individual signing the card as an authorized or courtesy signer. Without such verbiage or a separate authorization, the bank cannot legally request a report on authorized signers.
First published on BankersOnline.com 6/11/12
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