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| Credit and Financial Checks
May 23 2019

FTC Announces Amendments to Facilitate Compliance with the Fair Credit Reporting Act

The Federal Trade Commission (FTC) has approved publication of a Federal Register notice announcing the rescission of several model forms and disclosures under the Fair Credit Reporting Act (FCRA).

Rulemaking authority under several portions of the FCRA were transferred to the Consumer Financial Protection Bureau (CFPB) and the Commission retained seven rules issued under the FCRA that continue to apply to motor vehicle dealers. In addition, the FTC is re-designating Appedix B as Appendix A and Appendix C as Appendix B.