What actions must be taken when a customer has an Extended Alert on his or her credit bureau report and requests a new account?

When a customer with an Extended Alert on their credit bureau report requests a new account, the first step is to verify their identity through additional documentation, such as a government-issued ID or proof of address. It's essential to inform the customer about the Extended Alert and any potential delays in processing their application. Additionally, the lender should follow their internal procedures for reviewing applications flagged by credit alerts, ensuring a thorough assessment before making a final decision. Finally, maintain clear communication with the customer throughout the process to keep them informed of any required actions or updates.