Credit Authorization

1) Introduction and Purpose

This Credit Authorization ("Authorization") is provided by Fedd Loans LLC ("Company," "we," "us," or "our"), which operates the APPNAME mobile application, website at https://feddloans.com/, and related services (collectively, the "App" or "Services"). This Authorization explains your consent for us and for third-party lenders and financial service providers with whom you may be matched to obtain, use, and share credit reports, consumer reports, and related information in connection with your request for loan products, offers, or financial services.

Under the Fair Credit Reporting Act (15 U.S.C. § 1681 et seq.) ("FCRA"), the Equal Credit Opportunity Act (15 U.S.C. § 1691 et seq.) ("ECOA"), and applicable state laws, certain disclosures and authorizations are required before a consumer report or credit report may be obtained for a permissible purpose. This Authorization is intended to provide you with clear, conspicuous, and comprehensive disclosure of your rights and the scope of the authorization you are providing.

By submitting a loan application or request through the App, by clicking "I Agree," "I Authorize," or similar language, or by otherwise indicating your consent, you acknowledge that you have read, understood, and agree to the terms of this Credit Authorization. Your authorization will apply to Fedd Loans LLC and to the extent we share your authorization with our lending partners, to those lenders and financial service providers who may evaluate your request and potentially present you with loan offers.

2) Definitions

For purposes of this Authorization, the following definitions apply:

2.1 Consumer Report

A "consumer report" means any written, oral, or other communication of any information by a consumer reporting agency bearing on a consumer's creditworthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living which is used or expected to be used or collected in whole or in part for the purpose of serving as a factor in establishing the consumer's eligibility for credit or insurance to be used primarily for personal, family, or household purposes, or for employment purposes, or for other purposes permitted under the FCRA.

2.2 Credit Report

A "credit report" is a type of consumer report that contains information about your credit history, including but not limited to: credit accounts and payment history; credit inquiries; public records such as bankruptcies, judgments, or liens; collections; and other information that may be used to determine your creditworthiness.

2.3 Consumer Reporting Agency

A "consumer reporting agency" means any person which, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports to third parties.

2.4 Soft Credit Inquiry

A "soft" or "soft pull" credit inquiry is a request for your credit information that typically does not affect your credit score. Soft inquiries may be used for pre-qualification, pre-approval, or account review purposes. They are generally not visible to other lenders when they review your credit report.

2.5 Hard Credit Inquiry

A "hard" or "hard pull" credit inquiry is a request for your credit information that may be recorded on your credit report and may affect your credit score. Hard inquiries are typically used when you formally apply for credit, such as a loan or credit card. They may be visible to other lenders when they review your credit report.

2.6 Permissible Purpose

Under the FCRA, a consumer report may be obtained only for a "permissible purpose." Permissible purposes include, but are not limited to: in connection with a credit transaction involving the consumer; in connection with the underwriting of insurance involving the consumer; in connection with a determination of the consumer's eligibility for a license or other benefit; for employment purposes; and for other purposes specified in 15 U.S.C. § 1681b.

3) Scope of Your Authorization

By providing this Authorization, you expressly authorize:

3.1 Fedd Loans LLC

You authorize Fedd Loans LLC, its affiliates, and its service providers to obtain consumer reports and credit reports about you from one or more consumer reporting agencies. You authorize us to use such information for the following purposes: (a) to match you with lenders and financial service providers who may offer loan products or other financial services; (b) to verify your identity and the information you provide in your application; (c) to prevent fraud and comply with applicable laws; (d) to improve our services and develop new offerings; and (e) for any other purpose permitted under the FCRA and applicable state law.

3.2 Third-Party Lenders and Financial Partners

You authorize us to share your information, including the fact that you have provided this Authorization, with third-party lenders and financial service providers in our network. You further authorize those lenders and financial partners to obtain consumer reports and credit reports about you from one or more consumer reporting agencies for the purpose of evaluating your application, determining your eligibility for credit, making credit decisions, and presenting you with loan offers.

3.3 Types of Information That May Be Obtained

The information that may be obtained pursuant to this Authorization includes, but is not limited to: (a) credit reports from national credit bureaus such as Equifax, Experian, and TransUnion; (b) alternative credit data or non-traditional credit information from alternative data providers; (c) identity verification and fraud prevention reports; (d) bank account verification and income verification reports; and (e) other consumer reports or information that may be legally obtained for the purposes described in this Authorization.

3.4 Duration of Authorization

This Authorization applies to all requests you submit through the App, including initial applications and any subsequent requests for loan products or financial services. Your authorization remains in effect for the duration of your use of the App and for a reasonable period thereafter as necessary to complete any pending transactions, comply with legal obligations, or resolve disputes. You may withdraw your authorization in writing at any time by contacting us at [email protected]; however, withdrawal will not affect the validity of any consumer reports already obtained or any actions already taken in reliance on such reports.

4) Soft vs. Hard Credit Inquiries

It is important that you understand the difference between soft and hard credit inquiries and when each may occur.

4.1 Soft Inquiries

When you submit a loan request through the App, we and our lending partners may obtain a soft credit inquiry or soft pull to pre-qualify you or to present you with loan offers. A soft inquiry typically does not affect your credit score. Checking your rate, viewing pre-qualified offers, or having your information reviewed for matching purposes may involve a soft inquiry. We will not initiate a hard credit inquiry without your explicit consent.

4.2 Hard Inquiries

When you choose to formally apply for a loan with a specific lender—for example, by accepting an offer, completing a lender's application, or providing additional authorization—that lender may obtain a hard credit inquiry. A hard inquiry may be recorded on your credit report and may affect your credit score. You will be informed before a hard inquiry is made, and you will have the opportunity to review the lender's terms and conditions before proceeding.

4.3 Your Control

You control whether and when you proceed to a formal application that may result in a hard inquiry. You are not required to accept any loan offer, and you may decline offers at any time. If you have questions about whether a particular action will result in a soft or hard inquiry, please contact the lender directly or contact us at [email protected].

5) How Your Information Is Used

The credit reports and consumer reports obtained pursuant to this Authorization may be used for the following purposes:

Eligibility and Matching: To determine your eligibility for loan products and to match you with lenders who may offer products that fit your profile. Lenders use credit information to assess creditworthiness, set interest rates, determine loan amounts and terms, and make approval decisions.

Identity Verification and Fraud Prevention: To verify your identity, prevent fraud, and detect and prevent unauthorized access or misuse of the App and our services.

Compliance: To comply with applicable federal and state laws, including the FCRA, ECOA, and state lending and consumer protection laws.

Account Management: To manage your account, process your requests, and provide customer support.

Dispute Resolution: To investigate and resolve disputes, complaints, or inquiries you may have.

We and our lending partners will use such information only for permissible purposes under the FCRA and applicable law. We will not use credit information for any purpose that is not permitted by law or that is inconsistent with this Authorization.

6) Disclosure to Third Parties

Your information, including information derived from credit reports and consumer reports, may be disclosed to the following categories of third parties:

Lenders and Financial Partners: We share your information with lenders and financial service providers in our network so they can evaluate your request and potentially present you with loan offers. Each lender has its own privacy policy and practices.

Consumer Reporting Agencies: We may report information about your transactions to consumer reporting agencies as permitted by law. For example, if you obtain a loan through a lender, that lender may report your payment history to credit bureaus.

Service Providers: We may share information with service providers who assist us in operating the App, such as identity verification providers, fraud prevention providers, and technology vendors. These providers are contractually required to protect your information and use it only for the purposes for which it was disclosed.

Legal and Regulatory: We may disclose information when required by law, regulation, legal process, or governmental request, or when necessary to protect our rights, users, partners, or the public.

We do not sell your credit report or consumer report information to third parties for their marketing purposes. For information about our broader data practices, please see our Privacy Policy.

7) Your Rights Under the Fair Credit Reporting Act

The FCRA provides you with important rights regarding your credit information. The following is a summary of key rights; this summary does not replace or limit your rights under the FCRA.

7.1 Right to Know What Is in Your File

You have the right to know what information is in your consumer report file. You may request a free copy of your credit report from each of the three nationwide credit bureaus once every 12 months by visiting www.annualcreditreport.com or by calling 1-877-322-8228.

7.2 Right to Dispute Inaccurate Information

If you believe that information in your consumer report is inaccurate or incomplete, you have the right to dispute it with the consumer reporting agency. The agency must investigate your dispute and correct or delete inaccurate information. You also have the right to dispute directly with the lender or creditor that furnished the information.

7.3 Right to a Fair Credit Reporting Process

Consumer reporting agencies must follow reasonable procedures to ensure that the information they report is accurate and that they use consumer reports only for permissible purposes. If a consumer reporting agency or a user of a consumer report violates the FCRA, you may have the right to bring a civil action.

7.4 Right to Opt Out of Prescreened Credit Offers

You have the right to opt out of receiving prescreened credit offers. You may do so by calling 1-888-5-OPT-OUT (1-888-567-8688) or visiting www.optoutprescreen.com.

7.5 Additional Rights

Your rights under the FCRA may include additional protections depending on your circumstances. For a complete statement of your rights, please visit the Federal Trade Commission's website at www.consumer.ftc.gov or consult the FCRA directly (15 U.S.C. § 1681 et seq.).

8) Equal Credit Opportunity

Under the Equal Credit Opportunity Act (ECOA), creditors may not discriminate against applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because you receive income from a public assistance program, or because you have exercised your rights under the Consumer Credit Protection Act. Lenders in our network are required to comply with the ECOA and applicable state fair lending laws. If you believe you have been discriminated against, you may file a complaint with the Consumer Financial Protection Bureau (CFPB) at www.consumerfinance.gov or with your state regulator.

9) State Law Considerations

Certain states have enacted laws that provide additional protections for consumers regarding credit reports and consumer reports. For example, some states require additional disclosures or impose additional restrictions on the use of credit information. We and our lending partners comply with applicable state laws in the states where we operate and where you reside. If you are a resident of a state that has adopted the Consumer Credit Reporting Agencies Act (CCRAA) or similar legislation, you may have additional rights. We encourage you to contact your state's consumer protection agency or attorney general's office for information about your state-specific rights.

10) Withdrawal of Authorization

You may withdraw your authorization at any time by contacting us in writing at [email protected] with the subject line "Withdraw Credit Authorization" and including your full name, email address, and a clear statement that you wish to withdraw your credit authorization.

Please note that withdrawal of your authorization will not affect: (a) the validity of any consumer reports or credit reports already obtained before your withdrawal; (b) any actions already taken by us or our lending partners in reliance on such reports; (c) any loan agreements you may have already entered into with a lender; or (d) our or our partners' ability to retain and use information as required or permitted by law.

If you withdraw your authorization, we may be unable to continue matching you with lenders or to process your loan request. You may need to re-authorize if you wish to submit a new request in the future.

11) Changes to This Authorization

We may update this Credit Authorization from time to time to reflect changes in legal requirements, our practices, or the structure of our services. When we make material changes, we will update the Effective Date at the top of this page and may provide additional notice where required by law.

Your continued use of the App and submission of loan requests after the Effective Date of any changes constitutes your acceptance of the updated Authorization. If you do not agree with the changes, you should discontinue use of the App and may withdraw your authorization as described in Section 10.

12) Contact Us

If you have questions about this Credit Authorization, your rights under the FCRA, or how we or our lending partners use credit information, you may contact us at:

Fedd Loans LLC (operating APPNAME)
Website: https://feddloans.com/
Email: [email protected]
Phone: (970) 423-2684
Address: 232 Lyons St, Fort Collins, CO 80521-1730

We will respond to reasonable inquiries within a practical timeframe consistent with our legal and operational obligations.