BOARD OF GOVERNORS
DIVISION OF CONSUMER
March 29, 2010
TO THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS SECTIONS
SUBJECT: Interagency Examination Procedures Regarding the Duties of Furnishers of Information
The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently approved the attached examination module 1 for the regulations (12 CFR 222.40 - .43) pertaining to the duties of furnishers of consumer information to a consumer reporting agency. The Board's Regulation V implements Sections 623(a)(8) and 623(e) of the Fair Credit Reporting Act (FCRA), as amended by the Fair and Accurate Credit Transactions Act of 2003. The furnisher provisions are effective July 1, 2010. Under the regulations, each furnisher of consumer information must:
If you have any questions, please contact Kathleen Conley, Senior Supervisory Consumer Financial Services Analyst, at (202) 452-2389, or Paul Robin, Manager, Oversight and Policy, at (202) 452-3140.
Cross-reference: CA 06-10CA letters | 2010 Letters