Adverse Action Notices

An adverse action notice is to inform the customer that they have been denied credit. The dealership is required to issue an adverse action notice if it can’t find a funding source willing to accept the credit terms in the original deal. This module will describe the circumstances in which a notice must be given and describe the information and disclosures in the Adverse Action Notice.

Topics
  • When to Issue Adverse Action Notices

  • Example Situations

  • Model Notices

  • Best Practices

  • Required Content

  • Required Disclosures

  • Incomplete Applications & Document Retention

  • Dealer Liability

Features
  • Deployable online with Mosaic's LMS

  • Track and retain employee completions

  • SCORM Compliant version available

  • Text summary

  • English closed captions

Lesson Stats

Video Length

19:00

Units

8

Quiz Questions

11

Estimated Time

to Complete

30 minutes