WASHINGTON — The Office of the Comptroller of the Currency (OCC) has
approved for publication in the Federal Register
final rules and guidelines, which implement section 312 of the Fair and
Accurate Credit Transactions Act of 2003 (FACT Act) regarding the accuracy and
integrity of information furnished to consumer reporting agencies.
As required by the FACT Act, the OCC, together with the other Federal banking
agencies, the National Credit Union Administration, and the Federal Trade
Commission, will soon publish in the Federal Register final rules and
guidelines regarding the accuracy and integrity of information about consumers
that financial institutions and other businesses furnish to consumer reporting
agencies. The final rules will also implement a provision of the FACT Act that
provides consumers with a broad right to directly dispute inaccurate consumer
report information. Concurrent with the issuance of the final rules and
guidelines, the agencies plan to issue an advance notice of proposed rulemaking
to obtain more information to aid in considering possible additions to the
guidelines.
Links to the final rules and guidelines and the advance notice of proposed rulemaking appear below.
