AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Fed Unveils FCRA Change.(Fair Credit Reporting Act)
The Federal Reserve Board has issued a proposed rule requiring lenders to notify consumers if they furnish "negative information" about the consumers to credit reporting agencies.
And this is just the first of many expected regulatory proposals stemming from legislation that revised credit reporting laws. Under the Fair and Accurate Credit Transaction Act, which amended the existing Fair Credit Reporting Act, creditors must disclose to consumers that they have given information about delinquencies, late payments, insolvency, or any form of default to a credit bureau.
The proposal includes a model form for financial institutions to use if they furnish negative information to credit reporting agencies. The form outlines how that information should be communicated to the affected consumer. The model disclosure is a single sentence in length.
Melanie Brodie, an attorney with Kirkpatrick & Lockhart, said that use of the board's model would constitute a "safe harbor" for compliance with the FACT Act's notice obligation. However, use of the model form is not mandatory.
Ms. Brodie said the current Fed ...
- Banking groups balk at credit reporting bill. (Fair Credit Reporting Act)
- Magazine article from: Dallas Business Journal Whittington, Dennis June 17, 1994 700+ words
...opposing the bill -- a revised version of the Fair Credit Reporting Act. The association takes offense to a provision that...voted 87-10 to approve its version of the Fair Credit Reporting Act on May 4. The House could take action on a slightly...
- The real significance of FCRA.(briefing)(Fair Credit Reporting Act)
- Magazine article from: ABA Banking Journal Streeter, Bill September 1, 2003 700+ words
...Services Committee, said that the "Fair Credit Reporting Act has democratized credit." A few days...study was titled, "The Impact of National Credit Reporting Under the Fair Credit Reporting Act: The Risk of New Restrictions and State...
- Experts Testify on Fair Credit Reporting Act.(Brief Article)
- Magazine article from: Security Management Gips, Michael A. August 1, 2000 700+ words
...consultants who perform investigations of alleged employee misconduct such as sexual harassment are credit reporting agencies under the Fair Credit Reporting Act (FCRA). As such, they must disclose to the subject that they will be investigating him...
- Congress faces critical decision about consumer credit legislation (the Fair...
- Magazine article from: Business Economics Duncan, Joseph W. July 1, 2003 700+ words
...system. One law--the Fair Credit Reporting Act (FCRA)--has largely...the enactment of the Fair Credit Reporting Act of 1970. Since its enactment...interest rates low. The Fair Credit Reporting Act in Context The Maturation...
- Changes to the Credit Reporting Act. (implications of Fair Credit Reporting Act...
- Magazine article from: Mortgage Banking Downing, Richard, Jr. April 1, 1998 700+ words
...Significant changes to the fair credit reporting Act (FCRA) enacted last September...the enactment of the Fair Credit Reporting Act amendments on September 30...History of the FCRA The Fair Credit Reporting Act was originally enacted by...
- 7th Circuit finds credit agency not liable under Fair Credit Reporting...
- Newspaper article from: Lawyers USA April 9, 2007 700+ words
Byline: Lawyers USA Staff A credit reporting agency is not required by the Fair Credit Reporting Act to provide all information it has on...copies of their credit histories. The credit reporting agency provided all the information...
- House subcommittee approves Fair Credit Reporting Act changes.(in...
- Magazine article from: Journal of Property Management Druckman, Amanda November 1, 2003 700+ words
...theft and to establish national credit reporting standards. The bill would reauthorize the Fair Credit Reporting Act (FCRA) and contains several...histories available from national credit-reporting agencies. Mortgage lenders...
- U.S. magistrate judge rules bank is liable as credit furnisher under the Fair...
- Newspaper article from: Rhode Island Lawyers Weekly Cunningham, John O. April 4, 2005 700+ words
...credit furnisher under the Fair Credit Reporting Act because it only supplied accurate information to credit reporting agencies regarding activity...the central focus of the Fair Credit Reporting Act," he argued, noting that...
- SUPREME COURT UPHOLDS FCRA'S TIME LIMIT.(Fair Credit Reporting Act)(Brief...
- Newspaper article from: Cardline November 23, 2001 700+ words
...last week to uphold the Fair Credit Reporting Act's provision giving individuals two years to sue a credit- reporting agency from the date it makes...has since spun-off its credit-reporting agency, which is now known...
- Credit and collection: clinic.(Fair Credit Reporting Act,)(Brief Article)
- Newspaper article from: Credit & Collection Manager's Letter September 1, 2002 700+ words
...Aklagis sued under the Fair Credit Reporting Act, 15 U.S.C. Section 1681...of information to consumer credit reporting agencies" an obligation...Section 1681(b) of the Fair Credit Reporting Act with mixed results. The take...
Source: HighBeam Research, Fed Unveils FCRA Change.(Fair Credit Reporting Act)