### Question
How is the "firm offer of credit or insurance" defined?


### Answer
The term **firm offer of credit or insurance** is defined in *15 U.S.C. § 1681a* as follows -

> any offer of credit or insurance to a consumer that will be honored if the consumer is determined, based on information in a consumer report on the consumer, to meet the specific criteria used to select the consumer for the offer, except that the offer may be further conditioned on one or more of the following:


(1) The consumer being determined, based on information in the consumer's application for the credit or insurance, to meet specific criteria bearing on credit worthiness or insurability, as applicable, that are established—


(A) before selection of the consumer for the offer

#### Citation:
  - *15 U.S.C. § 1681a*
  - Heading: **CHAPTER 41-CONSUMER CREDIT PROTECTION > SUBCHAPTER III-CREDIT REPORTING AGENCIES**

