Recordkeeping and Disclosure Requirements Associated with the CFPB's and the Board's Regulations V

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), enacted in 2010, transferred to the Bureau of Consumer Financial Protection (Bureau) most, but not all, of the rulemaking authority for issuing regulations under the Fair Credit Reporting Act (FCRA). The Board and other federal agencies retained rulemaking responsibility for the FCRA provisions regarding identity theft prevention programs and the duties of card issuers to validate consumers’ changes of address (hereinafter, “identity theft red flags”), as well as the disposal of consumer information, with respect to the entities that are subject to each agency’s respective enforcement authority. The Board and Federal Trade Commission (FTC) also retained rulemaking authority for certain provisions of the FCRA applicable to motor vehicle dealers. The Paperwork Reduction Act (PRA) classifies reporting, recordkeeping, or disclosure requirements of a regulation as an information collection. The Board continues to be responsible for renewing every three years the information collection requirements contained in the Bureau’s FCRA regulations for institutions with $10 billion or less in assets that are identified in 15 U.S.C. § 1681s(b)(1)(A)(ii) and for consumers of these institutions, as well as for prescribing and enforcing the identity theft red flags provisions in the Board’s FCRA regulations for institutions of any size that are identified in 15 U.S.C. § 1681s(b)(1)(A)(ii).

The latest form for Recordkeeping and Disclosure Requirements Associated with the CFPB's and the Board's Regulations V expires 2022-06-30 and can be found here.

Disclosure Section 1022 Appendix B Negative information notice

Federal Enterprise Architecture: Economic Development - Financial Sector Oversight