Asked by Hallie Canto on Apr 24, 2024
Leo's application to Metro Bank for a credit card is denied on the basis of what Leo believes is an inaccurate credit report. Leo should
A) immediately apply for a credit card with a different financial institution.
B) appeal the denial to the appropriate federal or state agency.
C) obtain his credit report and notify the reporting agency of inaccuracies.
D) file a suit against the bank, alleging a violation of federal credit laws.
Credit Report
A detailed report of an individual's credit history prepared by a credit bureau used by lenders to determine creditworthiness.
Metro Bank
A retail and commercial bank operating primarily in the United Kingdom, offering banking and financial services.
Inaccuracies
Errors, mistakes, or discrepancies that deviate from correctness or truth.
- Comprehend the rights consumers have under the Fair Credit Reporting Act.
- Recognize measures that consumers can implement in response to credit discrimination or errors in credit reports.
Learning Objectives
- Comprehend the rights consumers have under the Fair Credit Reporting Act.
- Recognize measures that consumers can implement in response to credit discrimination or errors in credit reports.