Finance
A Kentucky lender who denies a loan application must provide the applicant with a notice of adverse action within:
A3 days
B10 days
C30 days✓ Correct
D60 days
Explanation
Under ECOA (Equal Credit Opportunity Act) and Regulation B, a creditor must notify an applicant of an adverse action (denial) within 30 days of receiving a completed application. The notice must state the specific reasons for denial.
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