Q. A consumer applied for a home-equity loan with our bank and several months later applied for an auto loan. Can we simply re-use the original credit report instead of obtaining a new one? A. There are multiple issues to consider. Although it is not clear that reuse of a credit report violates the "permissible purpose" requirements of the Fair Credit Reporting Act, it could violate other legal requirements. Among these could be contractual issues with the bank's consumer reporting agency.
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