This type of letter doesn't make sense no matter what, and if people receive something like this they should immediately file a complaint with the FTC for FCRA violations.
Please link a source for this one. Look, this is a great practice for sure, but we're in the realm of legal now.
I looked briefly[0] and couldn't find anything that explicitly that's what you need to do when describing options.
The only requirement that I can see they are *required* to do:
> furnishes negative information to such an agency regarding credit extended to a
customer, the financial institution shall provide a notice of
such furnishing of negative information, in writing, to the
customer.
And it needs to be 30 days. As far as I can tell, this is in good standing FCRA wise.
Sorry, no. You may be "in the realm of legal now", but I wasn't.
You fundamentally misunderstand what I was saying. I was not claiming that they were violating a legal requirement, just that they are behaving unethically, and if the rules allow this then new rules are needed.
and which FCRA violation specifically? Basic read of FCRA... I don't see one.