Does anyone have input on the status of the "joint user" exception in connection with the proposed regulation implementing the FCRA? The exception is discussed in the FCRA Commentary by the FTC and various advisory opinions from the FTC and FRB but is not mentioned in actual statute or the proposed regulation. Many banks use affiliates for essential back-room operations (i.e. risk management, legal support, online product development, account acquisitions, etc.). This their roles, the affiliates have access to customer information necessary to perform these support functions, and their access (provided it is within the authorize purpose) would not be subject to opt-out. By failing to mention the "joint user" exception in the proposed regulation, there is concern that the regulators no longer believe that such an exception exists.

Lack of the "joint user" exception in the FCRA info-sharing proposal and need for it in a final reg was a great concern, pointed out by several trade associations and, hopefully by many, banks in their comment letters.

Anyone who didn't file a comment letter by the technical deadline might still try to get their 2-cents worth in, on this and other important issues.