Skip to content
BOL Conferences Top Gun 23
Thread Options
#1760640 - 11/26/12 04:48 PM New forms on 1.1.2013??????
Burgess Offline
Diamond Poster
Joined: Jan 2004
Posts: 1,620
i missed the memo on this - new forms that must be used in january 2013??

From ABA compliance update email

January 1: CFPB Revised FCRA Forms
As reported in the Federal Register on December 21, 2011, the Consumer Financial Protection Bureau (CFPB), as the chief enforcer of the Fair Credit Reporting Act (FCRA), has issued revised FCRA forms that creditors, employers (including financial institutions) and consumer reporting agencies must start using no later than January 1, 2013.


uhhh, what forms?
_________________________
My views, not my employer's views.

Return to Top
#1760641 - 11/26/12 04:51 PM Re: New forms on 1.1.2013?????? Burgess
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,292
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

Return to Top
#1760642 - 11/26/12 04:51 PM Re: New forms on 1.1.2013?????? Burgess
lbbanker Offline
100 Club
Joined: Aug 2007
Posts: 151
Tennessee
Same question here.

Return to Top
#1760735 - 11/26/12 07:46 PM Re: New forms on 1.1.2013?????? Burgess
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,862
Cape Cod
In December 2011 the Bureau took over the regulation and published all new forms, which are supposed to be in use starting 1/1/2013.

In November 2012, the Bureau changed four of the forms (those in appendices I, K, M and N) to make some corrections. In doing so, they said that if you had already changed over to the December 2011 forms, you can continue to use what you have until further notice (expected sometime in 2013). But if you haven't yet made the change, you need to use the November 2012 versions of the forms in appendices I, K, M and N when you do make the change, on or before 1/1/13.

Not all of the forms are applicable to lenders. Some have to be used by credit bureaus. Some by employers, etc.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top
#1770404 - 12/26/12 06:47 PM Re: New forms on 1.1.2013?????? Burgess
Cedar Point Guy Offline
Platinum Poster
Cedar Point Guy
Joined: Nov 2009
Posts: 732
Cedar Point
Am I reading this correctly? Only Appendix B,C,E,and H are to be used by Lenders (banks). All of the other appendixes do not apply to banks. That is how I am reading it. Is that correct?
_________________________
Do or Do not There is no try.

Return to Top
#1770413 - 12/26/12 07:05 PM Re: New forms on 1.1.2013?????? Burgess
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
And those changed...Our update goes in tonight on those notices.

Also, Appdx K does apply. I think it only applies if you pull credit for employment purposes.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

Return to Top
#1770482 - 12/26/12 08:51 PM Re: New forms on 1.1.2013?????? Burgess
Cedar Point Guy Offline
Platinum Poster
Cedar Point Guy
Joined: Nov 2009
Posts: 732
Cedar Point
So I am right the only one that effect banks are B,C,E,H, and K??? I did not see any changes to those letters only I,K,M, and N.
_________________________
Do or Do not There is no try.

Return to Top
#1770499 - 12/26/12 09:12 PM Re: New forms on 1.1.2013?????? Burgess
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
The material change is the address for the CFPB...it replaces your regulator and the FTC in the RBP (all types) notices.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

Return to Top
#1770505 - 12/26/12 09:16 PM Re: New forms on 1.1.2013?????? Burgess
Cedar Point Guy Offline
Platinum Poster
Cedar Point Guy
Joined: Nov 2009
Posts: 732
Cedar Point
I must have misread those changes to those forms, thank you for your help.
_________________________
Do or Do not There is no try.

Return to Top
#1770723 - 12/27/12 04:58 PM Re: New forms on 1.1.2013?????? Burgess
Sugarbaker Offline
Gold Star
Joined: Nov 2005
Posts: 265
The appendix K Summary of Rights issued by the CFPB doesn't have the phone number to opt out of prescreen solicitations on page 2 like the FTC notice did? Should we include the phone number from the FTC notice or just leave the 1-800-XXX-XXXX as the model form has? The tricky part is it is a PDF.

Return to Top