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| TREAS/OTS | RIN: 1550-AC01 | Publication ID: Spring 2006 |
| Title: ●Procedures To Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies Under Section 312 of the Fair and Accurate Credit Transactions Act | |
| Abstract: The Office of the Comptroller of the Currency, Federal Reserve Board, Federal Deposit Insurance Corporation, Office of Thrift Supervision, National Credit Union Administration and Federal Trade Commission are seeking to gather information for developing guidelines and regulations required by section 312 of the Fair and Accurate Credit Transactions Act (FACT Act). Pursuant to section 312, the agencies must (1) Establish guidelines for use by persons that furnish information to consumer reporting agencies regarding the accuracy and integrity of the consumer information that they furnish to those agencies; and (2) prescribe regulations that require furnishers to establish reasonable policies and procedures for implementing the guidelines. Section 312 also requires the agencies jointly to prescribe regulations that identify the circumstances under which a furnisher shall be required to reinvestigate a dispute concerning the accuracy of information contained in a consumer report on a consumer based on a direct request of the consumer. | |
| Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
| RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Prerule Stage |
| Major: No | Unfunded Mandates: No |
| CFR Citation: 12 CFR 571 | |
| Legal Authority: Not Yet Determined | |
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Legal Deadline:
None |
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Timetable:
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| Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
| Federalism: No | |
| Included in the Regulatory Plan: No | |
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Agency Contact: Glenn S. Gimble Senior Project Manager Department of the Treasury Office of Thrift Supervision 1700 G Street NW., Washington, DC 20552 Phone:202 906-7158 Richard Bennett Senior Compliance Counsel, Regulations and Legislation Division Department of the Treasury Office of Thrift Supervision 1700 G Street NW., Washington, DC 20552 Phone:202 906-7409 |
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