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• The notice required by the Equal Credit Opportunity Act advising a loan applicant or existing debtor of the denial of their request for credit or advising of a change in terms considered unfavorable to the borrower. Freezing the line of credit on a home equity loan requires the financial institution to send the adverse action notice to the borrower describing why the financial institution froze the line.

  National Credit Union Administration - Cite This Source - This Definition
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  Cite Definition for Adverse Action Notice

  American Psychological Association (APA)

  Adverse Action Notice. (n.d.). Pocket Cents Glossary. Retrieved March 30, 2023, from website: http://www.expertglossary.com/definition/adverse-action-notice.

  Chicago Manual of Style (CMS)

  Adverse Action Notice. www.mycreditunion.gov. Pocket Cents Glossary. National Credit Union Administration. http://www.expertglossary.com/definition/adverse-action-notice (accessed: March 30, 2023).

  Modern Language Association (MLA)

  "Adverse Action Notice." Pocket Cents Glossary. National Credit Union Administration. 30 March. 2023 http://www.expertglossary.com/definition/adverse-action-notice.

• Browse Related Terms: Adverse Action Notice, Annual Percentage Rate (APR), Credit application, Discount rate, Federal Open Market Committee (FOMC), Finance Charge, interest, Interest rate, Money factor, Origination fee, Periodic interest rate, Prequalification, Prime rate, Regulation Z, Right of rescission, Truth-in-Lending Act

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