Finance
Under the Equal Credit Opportunity Act (ECOA), Texas lenders must notify applicants of a credit decision within:
A3 business days
B30 days of receiving a completed application✓ Correct
C45 days for adverse action
D60 days
Explanation
ECOA requires creditors to notify applicants of the credit decision (approval, denial, or counteroffer) within 30 days of receiving a completed application. If the decision is adverse, the notice must state the reasons for denial.
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