First and foremost, U.S. Bank does not sell applicant information and there is a way to stop the offers.
All three national credit bureaus - Equifax, TransUnion and Experian – sell information to lending companies that take advantage of a federal law allowing them to identify potential customers for products they offer and market to them. The prescreened calls, emails and letters applicants may receive are because an “inquiry” appears on their credit report indicating that they are in the market for a loan.
Prescreened offers may highlight other available loan products and make it easier to compare costs. The terms of prescreened offers may be more favorable than those available to the general public, but transferees are likely already receiving better offers. Individuals are also less likely to be turned down since they were pre-selected for the offer.
If your employee does not want to receive pre-screened offers, they can opt out for five years or permanently by calling 1-888-5-OPTOUT (1-888-567-8688). They’ll be asked for personal information, including their name, phone number, Social Security number and date of birth. The information is confidential and will be used only to process the opt out request
If they have joint credit relationships, like a mortgage or a car loan with a partner, they may continue to receive solicitations until both parties opt out.