The Bank is required to provide to the consumer as soon as reasonably practicable a statement indicating that the information and credit scoring model may be different than the credit score that may be used by the lender. The notice must include:
•The current credit score of the consumer or the most recent credit score of the consumer that was previously calculated by the credit reporting agency for a purpose related to the extension of credit;
•The range of possible credit scores under the model used;
•All of the key factors (not to exceed four) that adversely affected the credit score of the consumer in the model used;
•The date on which the credit score was created; and
•The name of the person or entity that provided the credit score or credit file upon which the credit score was created.
A lender that uses a credit score, other than a credit score provided by a CRA, may satisfy the obligation to provide a credit score by disclosing a credit score and associated key factors supplied by a CRA.
The lender must provide to the consumer as soon as reasonably practicable a notice required by Reg V, which must include certain disclosures including the name, address, and telephone number of each consumer reporting agency providing a credit score that was used. A form of Disclosure of Credit Score Information is located at the end of this Chapter.