The Federal Trade Commission is seeking comment on proposed changes that would bring several rules implementing parts of the Fair Credit Reporting Act (FCRA) in line with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
In separate Notices of Proposed Rule Making (NPRMs), which will be published in the Federal Register shortly, the FTC proposed changes that would clarify that five FCRA rules promulgated by the FTC apply only to motor vehicle dealers. The Dodd-Frank Act, enacted in 2010, transferred rulemaking authority related to parts of the FCRA to the Consumer Financial Protection Bureau, narrowing the FTC’s FCRA rulemaking authority for these rules.
The NPRMs propose changes to the following rules:
In addition, as part of its periodic review of its rules and guides, the FTC is seeking comment on the effectiveness of the five rules including:
Those seeking to comment on these issues and others will have 75 days from the date the notices are published in the Federal Register to submit comments. Instructions on how to file comments will be included in the notices published in the Federal Register. Comments will be posted to Regulations.gov.
The Commission voted 3-0-2 to publish the notices in the Federal Register. Commissioners Rebecca Kelly Slaughter and Christine S. Wilson did not participate.
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