client content footer
displays under the client's content area
Latest From Cypress CRIF Lending Solutions
CYPRESS CRIF LENDING SOLUTIONS HOLIDAY SCHEDULE
The following holidays will be observed by Cypress CRIF Lending Solutions:
- New Year’s Day: Observed December 31, 2010
- Martin Luther King Jr. Day: January 17, 2011
- Memorial Day: May 30, 2011
- Independence Day: July 4, 2011
- Labor Day: September 5, 2011
- Thanksgiving Day (2 days): November 24th and 25th, 2011
- Christmas (2 days): Observed December 22nd and 23rd, 2011
Release Date: March 1, 2011
For immediate release
The Federal Reserve Board and the Federal Trade Commission (FTC) on Tuesday proposed regulations regarding the credit score disclosure requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The statute requires creditors to disclose credit scores and related information to consumers in risk-based pricing and adverse action notices under the Fair Credit Reporting Act (FCRA) if a credit score was used in setting the credit terms or taking adverse action.
The Board proposes to amend Regulation V (Fair Credit Reporting) to revise the content requirements for risk-based pricing notices and to add related model forms to reflect the new credit score disclosure requirements. The Board is issuing this proposal jointly with the FTC.
The Board also proposes to amend certain model notices in Regulation B (Equal Credit Opportunity), which combine the adverse action notice requirements for both Regulation B and the FCRA. The proposed amendments would revise the model notices to incorporate the new credit score disclosure requirements.
Public comments on the proposed rules under Regulations V and B are due 30 days after publication in the Federal Register, which is expected shortly.
The notices for the two proposed rules are attached.
Attachment 1
Attachment 2
