Privacy and Credit Reporting

Laws and Regulations

Key laws and regulations that pertain to FDIC-supervised institutions; note that other laws and regulations also may apply.

• Fair Credit Reporting Act
  • Part 1022 — Fair Credit Reporting (Regulation V) provides access to the Consumer Financial Protection Bureau’s (CFPB’s) Regulation V — Fair Credit Reporting and related subparts
• Telephone Consumer Protection Act
  • Telephone Consumer Protection Act of 1991 provides the final rule by the Federal Trade Commission (FTC)
• Privacy
  • Part 1016 — Privacy of Consumer Financial Information (Regulation P) provides access to the CFPB’s Regulation P — Privacy of Consumer Financial Information

Supervisory Resources

Frequently asked questions, advisories, statements of policy, and other information issued by the FDIC alone, or on an interagency basis, provided to address consumer protection issues.

• Fair Credit Reporting Act
  • Section VIII. Privacy — Fair Credit Reporting Act of the FDIC’s Consumer Compliance Examination Manual provides an introduction to the FCRA and outlines regulatory requirements as well as related examination procedures
• Telephone Consumer Protection Act
  • Section VIII. Privacy — Telephone Consumer Protection Act of the FDIC’s Consumer Compliance Examination Manual provides an introduction to the TCPA and outlines regulatory requirements as well as related examination procedures
• Privacy
  • Section VIII. Privacy — GLBA of the FDIC’s Consumer Compliance Examination Manual discusses the treatment of nonpublic personal information about consumers by financial institutions, outlines regulatory requirements, and provides related examination procedures
  • Frequently Asked Questions assist financial institutions in complying with the privacy provisions of the Gramm-Leach-Bliley Act (GLBA) and illustrate how select provisions of the related regulation apply to specific situations a financial institution may confront
• Interagency Statement on the Use of Alternative Data in Credit Underwriting focuses on consumer protection implications regarding the use of alternative data in underwriting, highlighting potential benefits and risks
• Consumer Credit Reporting Practices addresses financial institutions’ resolution of issues related to consumer credit reporting

Other Resources

Supplemental information related to consumer protection issues.

• Fair Credit Reporting Act
  • CFPB Fair Credit Reporting Act Resources provides resources to help industry participants understand, implement, and comply with the FCRA
• Fair and Accurate Credit Transactions Act
  • The Fair and Accurate Credit Transactions Act of 2003 Selected Provisions describes selected provisions of the FACTA including those related to identity theft prevention and credit history restoration, improvements in the use of and consumer access to credit information, enhancing the accuracy of consumer report information, and limiting the use and sharing of medical information in the financial system
• Telephone Consumer Protection Act
  • Telephone Consumer Protection Act Text provides the text version of the TCPA
• Privacy
  • CFPB Gramm-Leach-Bliley Act Resources provides resources to help industry participants understand, implement, and comply with the privacy provisions of the GLBA and Regulation P
  • Model Privacy Forms allows users to download the various versions of the Regulation P model forms and provides instructions for accessing an online form builder
  • How to Comply with the Privacy of Consumer Financial Information Rule of the Gramm-Leach-Bliley Act provides information from the FTC to help businesses that provide financial products or services to individuals for personal, family, or household use