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#1884277 - 01/08/14 06:26 PM charges for certain FCRA disclosures
bmw Offline
Junior Member
Joined: Jul 2012
Posts: 44
i received this the other day;

"The Bureau of Consumer Financial Protection (CFPB) issued a notice that the ceiling on allowable charges under Section 612(f) of the Fair Credit Reporting Act (FCRA) will remain unchanged at $11.50 for 2014."

could someone please explain what fees they are talking about? this is not talking about the amount the bank charges the customer for the credit report is it?

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#1884281 - 01/08/14 06:44 PM Re: charges for certain FCRA disclosures bmw
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,793
Cape Cod
Nope. That's the cap on the fee that a credit bureau may charge a consumer for a copy of the consumer's credit report when there's no requirement to provide it free-of-charge.

So if you as a consumer contact Experian for a credit report on yourself, you are entitled to one free report a year. If you get a report in January and ask for another report from Experian in April, it could charge you up to $11.50 for the second report.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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