The Credit CARD Act of 2009 mandates
that the FTC adopt a rule by February 22, 2010, requiring any
advertisement for a free credit report, in any medium, to disclose
prominently that free credit reports are available under federal
law at AnnualCreditReport.com. The Commission intends to
implement the Acts disclosure requirements by amending the current
Free Annual File Disclosures Rule, which requires nationwide
consumer reporting agencies and nationwide specialty CRAs to
provide to consumers, upon request, one free annual file
disclosure. The Rule also requires the nationwide CRAs to provide
consumers with the ability to request this disclosure through a
centralized source, including an Internet website, a toll-free
telephone number, and a postal address.
Statute at
Large: 123
Stat. 1734 Name of Statute: Credit Card Accountability
Responsibility and Disclosure Act of 2009
US Code: 16
USC 1681 Name of Law: Fair Credit Reporting Act
Statute at Large: 123 Stat. 1734 Name of
Statute: Credit Card Accountability Responsibility and Disclosure
Act of 2009
To help facilitate Congress'
mandate that the Commission require any ads for free credit reports
to prominently disclose the central site where such reports are
available for free, the Commission proposes to amend section 610.2
of the current Rule to prevent interference with consumer ability
to obtain free annual file disclosures through the centralized
source. The proposed amendments to the Rule's requirements are
intended to make it easier for consumers to obtain their free
annual file disclosures from the centralized source without
distracting advertising, including advertising leading consumers to
commercial websites. The incremental burden associated with the
proposed amendments to section 610.2 should present no more than a
de minimis, one-time occurrence, as the three nationwide CRAs
reconfigure the centralized source and their own proprietary
websites to comply with the proposed Rule amendments.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.
Free Ann'l File Discl. NPRM '09 SS FIN_mtd.pdf
Free Annual File Disclosures Rule