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|Clarissa Martin, Research and Information Consultant for the California and Nevada Credit Union Leagues|
The overall notice consists of two parts: a short notice and a long notice. They should be in the same language as the offer of credit or insurance.
The Fair Credit Reporting Act (FCRA) allows creditors to obtain credit reports for transactions not initiated by the member called “pre-screen offers of credit.” When a credit union engages in pre-screening, it is required to provide a notice to the consumer with their right to opt out of pre-screened solicitations for credit or insurance.
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