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CFPB RIN: 3170-AB27 Publication ID: Fall 2024 
Title: ●Protecting Consumer Information in the Consumer Reporting Marketplace (Regulation V) 
Abstract:

Congress enacted the Fair Credit Reporting Act (FCRA) to ensure fair and accurate credit reporting, promote efficiency in the banking system, and protect consumer privacy. The law and its implementing regulation (Regulation V) impose legal duties on consumer reporting agencies, users of consumer reports, and furnishers of information to consumer reporting agencies. The consumer reporting industry has consistently been a major source of consumer complaints, and, since the FCRA’s enactment in 1970, advances in technology have led, particularly in recent years, to a rapid evolution of the consumer reporting marketplace, including the emergence of companies using business models that rely on newer technologies and novel methods to collect and sell consumer data. The CFPB is considering proposals to regulate many activities of such data brokers as covered under the FCRA and to address other issues that have arisen in the years since the FCRA’s enactment.

 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 12 CFR 1022   
Legal Authority: 15 U.S.C. 1681, et seq.   
Legal Deadline:  None
Timetable:
Action Date FR Cite
SBREFA Outline  12/15/2023 
SBREFA Report  09/15/2024 
NPRM  12/00/2024 
Regulatory Flexibility Analysis Required: YES  Government Levels Affected: Undetermined 
Small Entities Affected: Businesses, Governmental Jurisdictions, Organizations  Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: Yes 
Related RINs: Related to 3170-AA82, Related to 3170-AA54 
Agency Contact:
Laura Stack
Office of Regulations
Consumer Financial Protection Bureau
1700 G Street, NW,
Washington, DC 20552
Phone:202 435-7700