View Rule

On May 15, 2025, the CFPB withdrew its December 2024 notice of proposed rulemaking (NPRM) requesting comment on the CFPB’s proposal to amend Regulation V, which implements the Fair Credit Reporting Act (FCRA). The proposed rule would have implemented the FCRA’s definitions of consumer report and consumer reporting agency as well as certain of the FCRA’s provisions governing when consumer reporting agencies may furnish, and users may obtain, consumer reports. The CFPB has determined that legislative rulemaking is not necessary or appropriate at this time to address the subject matter of the NPRM. When and if the CFPB determines it necessary to issue a rule implementing the relevant definitions and provisions of the FCRA, it will propose a new rule and seek public comment thereon.