FCU - Fair Credit Reporting

Bur. of Consumer Financial Protection

Pt. 1022, App. C
account may be reflected in your credit report.
MODEL NOTICE B–2
We have told a credit bureau about a late
payment, missed payment or other default
on your account. This information may be
reflected in your credit report.

APPENDIX B TO PART 1022—MODEL NOTICES OF FURNISHING NEGATIVE INFORMATION

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a. Although use of the model notices is not
required, a financial institution that is subject to section 623(a)(7) of the FCRA shall be
deemed to be in compliance with the notice
requirement in section 623(a)(7) of the FCRA
if the institution properly uses the model notices in this appendix (as applicable).
b. A financial institution may use Model
Notice B–1 if the institution provides the notice prior to furnishing negative information
to a nationwide consumer reporting agency.
c. A financial institution may use Model
Notice B–2 if the institution provides the notice after furnishing negative information to
a nationwide consumer reporting agency.
d. Financial institutions may make certain
changes to the language or format of the
model notices without losing the safe harbor
from liability provided by the model notices.
The changes to the model notices may not be
so extensive as to affect the substance, clarity, or meaningful sequence of the language
in the model notices. Financial institutions
making such extensive revisions will lose the
safe harbor from liability that this appendix
provides. Acceptable changes include, for example,
1. Rearranging the order of the references
to ‘‘late payment(s),’’ or ‘‘missed payment(s).’’
2. Pluralizing the terms ‘‘credit bureau,’’
‘‘credit report,’’ and ‘‘account.’’
3. Specifying the particular type of account on which information may be furnished, such as ‘‘credit card account.’’
4. Rearranging in Model Notice B–1 the
phrases ‘‘information about your account’’
and ‘‘to credit bureaus’’ such that it would
read ‘‘We may report to credit bureaus information about your account.’’
MODEL NOTICE B–1
We may report information about your account to credit bureaus. Late payments,
missed payments, or other defaults on your

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