PC328 - Use of Credit Information Disclosure (Form CD-1) PC328 - Use of Credit Information Disclosur 2025

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The document outlines the regulations regarding the use of credit information in the insurance credit scoring process as mandated by Texas law. It specifies that insurers must disclose whether they will obtain and use credit information, detail how it affects underwriting decisions, and prohibits unfair discrimination based on credit scores. The document also highlights consumer protections, including the right to dispute inaccuracies in credit reports and receive exceptions for extraordinary events affecting credit. Insurers are required to provide clear communication about adverse actions taken due to credit information.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the insurer’s name, address, and telephone number in the designated fields. Ensure that all information is accurate for effective communication.
In the section regarding credit information, select either 'will' or 'will not' to indicate whether credit information will be obtained on you or any household members. This choice is crucial as it impacts your insurance credit scoring process.
If applicable, review the disclosure about how credit information may affect your policy. This includes understanding what constitutes adverse effects and how your credit score may influence underwriting decisions.
Finally, ensure all sections are completed accurately before saving your changes. You can easily share or print the document directly from our platform for free.

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Versions	Form popularity	Fillable & printable
2023	4.8 Satisfied (31 Votes)
2010	4.9 Satisfied (27 Votes)

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What is a creditor disclosure statement?

The disclosure may appear to be a payoff statement; however, it is not. This document is not a request to pay off your loan. It just provides you with information on how much your loan will cost you.

What is a use of credit information disclosure?

If credit information is obtained or used on the applicant or insured, or on any member of the applicants or insureds household, the insurer shall disclose to the applicant the name of each person on whom credit information was obtained or used and how each persons credit information was used to underwrite or rate

What does credit disclosure mean?

The disclosure statement is a document that must contain information concerning the assets, liabilities, and business affairs of the debtor sufficient to enable a creditor to make an informed judgment about the debtors plan of reorganization.

What is a credit disclosure statement?

A disclosure statement is a financial document presented to a participant in a transaction that explains key information in plain language. These are provided for retirement plans to spell out the plans rules, and with the contract for mortgages, auto, personal, and other kinds of loans.

What is the purpose of a disclosure statement?

A disclosure is a document that makes information known. In the banking industry, its a statement provided by a financial institutionto either a consumer or commercial account holder that outlines all pertinent information.