Appendix B – Model Notices of Furnishing Negative Information
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,
Rearranging the order of the references to “late payment(s),” or “missed
payment(s)”
Pluralizing the terms “credit bureau,” “credit report,” and “account”
Specifying the particular type of account on which information may be
furnished, such as “credit card account”
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 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.
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