Reg B (R1408) NPRM Press Release

Printer Version - Board of Governors of the Federal Reserve System

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Press Release

Release Date: March 1, 2011
For immediate release
The Federal Reserve Board and the Federal Trade Commission (FTC) on Tuesday proposed
regulations regarding the credit score disclosure requirements of the Dodd-Frank Wall Street
Reform and Consumer Protection Act. The statute requires creditors to disclose credit scores and
related information to consumers in risk-based pricing and adverse action notices under the Fair
Credit Reporting Act (FCRA) if a credit score was used in setting the credit terms or taking adverse
action.
The Board proposes to amend Regulation V (Fair Credit Reporting) to revise the content
requirements for risk-based pricing notices and to add related model forms to reflect the new credit
score disclosure requirements. The Board is issuing this proposal jointly with the FTC.
The Board also proposes to amend certain model notices in Regulation B (Equal Credit
Opportunity), which combine the adverse action notice requirements for both Regulation B and the
FCRA. The proposed amendments would revise the model notices to incorporate the new credit
score disclosure requirements.
Public comments on the proposed rules under Regulations V and B are due 30 days after publication
in the Federal Register, which is expected shortly.
The notices for the two proposed rules are attached.
Attachment (369 KB PDF)
Attachment2 (105 KB PDF)

http://www.federalreserve.gov/newsevents/press/bcreg/20110301a.htm

3/1/2011