What must be included in the consumer report when a financial institution takes adverse action based on that report?

When a financial institution takes adverse action based on a consumer report, it is required to include the source of the report in the notification to the consumer. This requirement is set forth in the Fair Credit Reporting Act (FCRA), which aims to ensure transparency and give consumers insight into why a credit decision was made that may have negative implications for them. By providing the source of the report, the institution allows the consumer to understand which credit reporting agency or provider supplied the information that led to the adverse action.

Including the source also enables consumers to verify the accuracy of the information and to address any potential discrepancies directly with the reporting agency. This aspect of the FCRA is crucial for maintaining consumer rights and ensuring that individuals have the ability to access and correct their credit information when necessary.

The other options, while they contain elements that might be relevant in certain contexts, do not fulfill the specific requirement of indicating the source of the consumer report, which is essential for the consumer's understanding of the adverse action taken against them.