Document background
The Credit Rejection Letter is a crucial document used when a financial institution needs to formally decline a credit application. Under English and Welsh law, institutions must provide clear, fair, and transparent reasons for credit rejections while adhering to strict regulatory requirements. The letter must include specific information about the decision-making process, credit reference agencies consulted, and the applicant's rights. This document helps ensure compliance with the Consumer Credit Act 1974, GDPR, and FCA regulations while maintaining professional standards in financial services communication.
