Question

Under what condition can a bank obtain a consumer report on an individual who is not personally liable for loan repayment?

A) With the consumer's verbal consent.
B) When the bank deems it necessary.
C) Only when the individual authorizes it in writing.
D) If the bank believes it is in the consumer's best interest.

Answer 1

The correct answer is C) Only when the individual authorizes it in writing.

Step-by-step explanation:

Under what condition can a bank obtain a consumer report on an individual who is not personally liable for loan repayment?

The correct answer is C) Only when the individual authorizes it in writing. In general, a bank can obtain a consumer report on an individual if they have the individual's written consent. This is to protect the individual's privacy rights and ensure that their personal information is not accessed without their authorization.