Reg B (R1408) NFRM Press Release

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Press Release

Release Date: July 6, 2011
For immediate release
The Federal Reserve Board (Board) and the Federal Trade Commission (FTC) on Wednesday issued
final rules to implement the credit score disclosure requirements of the Dodd-Frank Wall Street
Reform and Consumer Protection Act. If a credit score is used in setting material terms of credit or
in taking adverse action, the statute requires creditors to disclose credit scores and related
information to consumers in notices under the Fair Credit Reporting Act (FCRA).
The final rules amend Regulation V (Fair Credit Reporting) to revise the content requirements for
risk-based pricing notices, and to add related model forms that reflect the new credit score
disclosure requirements. The Board is issuing these final rules jointly with the FTC.
The final rules also amend certain model notices in Regulation B (Equal Credit Opportunity), which
combine the adverse action notice requirements for Regulation B and the FCRA, to reflect the new
credit score disclosure requirements
The rules under Regulations V and B are effective 30 days after the date of publication in the
Federal Register, which is expected soon.
For media inquiries, call 202-452-2955.
Attachment (526 KB PDF)
Attachment2 (368 KB PDF)

http://www.federalreserve.gov/newsevents/press/bcreg/20110706a.htm

7/6/2011