[Click HERE for table of Federal Register documents affecting this Regulation.]
NOTE: Under the provisions of the Dodd-Frank Act, this regulation was republished by the Consumer Financial Protection Bureau effective 12/30/2011 at 12 CFR Part 1002 The pages for the Federal Reserve regulation 12 CFR Part 202 appear here only as a historic reference. They are not maintained, and should not be relied upon as current requirements. Click the link to the CFPB regulation for the current rule.
Adds § 202.17 to clarify that motor vehicle dealers remain exempt from requirements of § 704B of ECOA (added by Dodd-Frank Act) to collect and report info concerning applications made by women- or minority-owned business and by small businesses until the effective date of final rules issued by the Board implementing those requirements.
Amends certain model notices which combine adverse action notice requirements for Reg B and the FCRA, to reflect new credit score disclosure requirements added by § 1100F of the Dodd-Frank Act. The FCRA amendments are effective 7/21/11.
Would clarify that motor vehicle dealers will not have to comply with data collection requirements of ECOA §704B (added by Dodd-Frank Act) until FRB issues final regulations under that section. DFA prohibits the Bureau from writing rules under ECOA affecting motor vehicle dealers.
Would revise model notices C-1 through C-5 to comply with additional content requirements of § 1100F of Dodd-Frank Act amendment to FCRA (disclosure of credit score and information on credit scores when score is used taking any adverse action).
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.