ADVERSE ACTION - A denial or revocation of credit, a change in the terms of an existing credit arrangem...
ADVERSE ACTION NOTICE - A document that explains to an applicant the reason(s) credit has been denied.
Adverse action - (1) refusal to grant credit in the amount or under the terms requested, or (2) termination of an account, ...
Adverse Action:
Under the Equal Credit Opportunity Act, a creditor's refusal to grant credit on the terms requested, termination of an existing account, or an unfavorable change in an existing account.
Adverse Action Notice: ...
adverse action
in consumer credit, denial of an applicant's credit application.
notice of adverse action
In many cases, lenders are required by law to provide applicants with timely notice of adverse action, such as denial of credit applications.
They must notify the consumer when an adverse action is taken on the basis of such reports.
Users must identify the company that provided the report, so that the accuracy and completeness of the report may be verified or contested by the consumer.
 See also: Credit score, Consumer credit, Truth in Lending Act, Credit bureau, Credit union
  
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