What regulation requires an insurance company to provide an applicant with the name and address of the consumer reporting company when an application is denied?

The regulation that mandates an insurance company to provide an applicant with the name and address of the consumer reporting company when an application is denied is the Fair Credit Reporting Act (FCRA). This act was established to promote accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.

Under the FCRA, when an application for insurance is denied based on information from a consumer report, the insurer is required to inform the applicant of the adverse action taken and provide them with the name and contact information of the consumer reporting agency that supplied the report. This ensures transparency and allows consumers to understand the reasons behind the denial, as well as giving them an opportunity to dispute any inaccuracies in their credit report.

This regulation is crucial in protecting consumers' rights by ensuring they have access to their credit information and that they can challenge any errors that may negatively affect their ability to obtain insurance or credit.