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Federal Deposit Insurance Corporation (FDIC) Proposed Rule Stage

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4602. FAIR CREDIT REPORTING ACT REGULATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 110 Stat 3009; 15 USC 1681 to 1681u; PL 104-208; PL
106-102; 15 USC 6806

CFR Citation: 12 CFR 334

Legal Deadline: None

Abstract: Section 506 of the Gramm-Leach-Bliley Act restored the
authority of the Federal banking agencies to examine banks and thrifts
for compliance with the Fair Credit Reporting Act without the
requirement that an agency first have a complaint or other knowledge of
a violation. Section 506 also requires the Federal banking agencies to
jointly prescribe regulations necessary to carry out the purposes of
the FCRA, with respect to financial institutions within their
jurisdiction. This rulemaking implements that requirement.

Timetable:
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Action Date FR Cite

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NPRM 10/00/00

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Deanna Caldwell, Senior Policy Analyst, Federal Deposit
Insurance Corporation, Washington, DC 20429
Phone: 202 942-3366

RIN: 3064-AC35