California Civil Code

§ 1787.2

CIV § 1787.2Div. 3 · Title 1.6B · Part 4 · Art. 1

Statute text

(a)Within 30 days, or at a later reasonable time as specified in federal law or regulations, after receipt of a completed written application for credit, a creditor shall notify the applicant of its action on the application.

(b)Each applicant denied credit shall be entitled to a statement of reasons for such action from the creditor. A creditor satisfies this obligation by:

(1)Providing statements of reasons in writing as a matter of course to applicants denied credit; or

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Legislative history

Added by Stats. 1976, Ch. 1072.