Clear Adverse Action Notification™

By automatically distributing adverse action notifications via email, Clarity helps streamline this required process and provides lenders with an additional way of managing compliance.

What is Clear Adverse Action Notification™?

Clear Adverse Action Notification is a service that lenders can utilize to automatically send adverse action notices to consumers. Notices are sent via email on a nightly basis and include all of the elements required by the ECOA and the FCRA, in a Regulation B format.

How can Clear Adverse Action Notification™ help my business?

Benefits to Consumers:

• Consumers have the convenience of receiving all of the reasons for denials in one email, at one time.
• Information is presented in a format that is easy-to-read and understand.
• Consumers can quickly and conveniently access information about how to get reports from Clarity and other bureaus.
• Displaying the names of lead generators helps consumers understand why multiple lenders may be included in the notification.

Benefits to Lenders:

• Streamlines notification to consumers.
• Reduces overhead and variable expenses ($.04 per denial versus the cost of postage)
• Helps lenders comply with:

- ECOA (Equal Credit Opportunity Act)
- FCRA (Fair Credit Reporting Act)
- Regulation B

• Reduces phone calls from consumers by providing more information about denials.
• Helps direct consumers back to lead generators, rather than lenders.

Clear Adverse Action Notification™ Features

• An automatic Adverse Action Notification letter sent to consumers on behalf of lenders that subscribe to the service.
• Notification is communicated via email on a daily basis.
• Denial information for each consumer is consolidated into one email (for all lenders that subscribe to the service).*
• Lead generators are displayed alongside the lender's name, if applicable, and reported by the lender.
• Lenders do not have to make decisions using Clarity reports to take advantage of the service.

*NOTE: Denials related to products that provide a credit score are not included, such as Clear Bureau (Vantage or FICO) or Clear Bureau Lite™.