1. Overview
This Notice describes PayServices Bank's policies under the federal Equal Credit Opportunity Act ("ECOA"), 15 U.S.C. § 1691 et seq., and its implementing Regulation B, 12 CFR Part 1002.
PayServices Bank does not currently offer credit products of any kind — including loans, lines of credit, credit cards, overdraft facilities, or extensions of credit of any other description — directly to its customers. Customers seeking credit may be referred, in their discretion, to PayServices Bank's affiliates, subsidiaries, sister companies, or to other banks on the PayServices Network where credit products are offered. This Notice describes our policies in case PayServices Bank or any of its affiliates extends credit to you, and describes your rights as an applicant or potential applicant in any such case.
2. The federal ECOA promise
If you believe you have been discriminated against in a credit transaction in violation of ECOA, you may file a complaint with the Consumer Financial Protection Bureau:
Consumer Financial Protection Bureau
1700 G Street NW
Washington, DC 20552
United States
Online: consumerfinance.gov/complaint
Telephone: (855) 411-2372
You may also have rights under state law and may file a complaint with the Idaho Department of Finance, the attorney general of your state of residence, or the equivalent authority in your country. See the Complaints page for additional contact information.
This statement is the ECOA notice required by Regulation B § 1002.9(b)(1) where credit is extended. Where PayServices Bank, or any affiliate or subsidiary of PayServices Bank, extends credit to you, the substance of this statement applies to that extension of credit and will be provided to you in connection with that credit transaction in the form prescribed by Regulation B.
3. Credit offered by affiliates, subsidiaries, or other banks on the Network
From time to time, ITAM may make credit products available to you that are offered by:
- An affiliate, subsidiary, or sister company of PayServices Bank;
- Another bank or licensed credit institution that participates in the PayServices Network;
- A non-bank credit provider with which PayServices Bank has a referral or partnership arrangement.
Where credit is offered by any such entity, the entity offering the credit (not PayServices Bank) is the "creditor" for purposes of ECOA, the Truth in Lending Act, the Fair Credit Reporting Act, and other applicable federal and state credit laws. The disclosures required by those laws — including ECOA notice, Truth in Lending disclosure, FCRA adverse-action notice, and any state-specific disclosures — will be provided to you by that entity in connection with your credit application or credit transaction.
PayServices Bank's role in such cases is limited to facilitating the introduction or, where applicable, providing customer-permissioned access to your ITAM data (subject to your consent and our Privacy Notice). PayServices Bank is not the creditor and does not extend the credit. The terms of any credit product offered by an affiliate or third party are the terms of that entity, not of PayServices Bank, and your relationship for that credit is with that entity. See also the Affiliates and Subsidiaries Disclosure.
4. Anti-tying notice
PayServices Bank does not condition the availability or terms of any product or service it offers (including a deposit account or a payment service) on your purchase of any credit product from PayServices Bank or any affiliate, and does not condition the availability or terms of any credit product offered by an affiliate on your purchase of any product or service from PayServices Bank, except as expressly permitted by Section 106(b) of the Bank Holding Company Act Amendments of 1970 (12 U.S.C. § 1972). This is the anti-tying disclosure required by federal banking law.
5. Adverse-action notices
Where any creditor — whether PayServices Bank or an affiliate — takes "adverse action" against you with respect to a credit application (i.e., denies the application, denies a renewal, makes an unfavorable change to the terms, or refuses to grant credit in substantially the amount or on substantially the terms requested), the creditor will provide you with the adverse-action notice required by Regulation B § 1002.9 and, where applicable, the FCRA adverse-action notice under 15 U.S.C. § 1681m. The notice will identify the creditor, state the principal reason(s) for the action, and inform you of your rights under ECOA and the FCRA.
6. Information about protected-class status
A creditor may not, with limited exceptions, request information about an applicant's race, color, religion, national origin, or sex. A creditor may request such information only where it is required by federal regulation (for example, in connection with the Home Mortgage Disclosure Act for residential mortgage loans), and in such cases the information is collected solely for the purpose of the regulator monitoring compliance and is not used in the credit decision.
A creditor may request information about marital status, age, and income from public-assistance programs only as permitted by Regulation B and only for purposes consistent with the law.
7. Right to a copy of an appraisal
If a credit transaction with PayServices Bank or an affiliate is secured by a first-lien on a dwelling, you have the right under Regulation B § 1002.14 to receive a copy of any appraisal or other written valuation developed in connection with the application, promptly upon completion or three business days before consummation, whichever is earlier. You may waive the timing requirement, but not the right to receive the copy.
8. Self-testing and monitoring
PayServices Bank, together with any affiliate that extends credit, conducts periodic fair-lending self-assessments and monitoring as appropriate to its credit activities. Self-test data are protected under Regulation B § 1002.15 and are used to identify and address any disparities in credit access or terms.
9. Where to file a complaint
You may also have rights under state law and may file a complaint with the Idaho Department of Finance, the attorney general of your state of residence, or the equivalent authority in your country. See the Complaints page for additional contact information.
10. Contact us
For questions about this Notice or about credit products offered through ITAM:
PayServices Bank — Compliance
950 W Bannock Street, Suite 1100
Boise, Idaho 83702-6140
United States
info@payservices.com