Source: http://thefederalregister.com/2012/11/14/2012-27581.html
Timestamp: 2018-03-23 16:39:58
Document Index: 184756275

Matched Legal Cases: ['art 1022', 'art 698', 'ART 1022', 'art 1022', 'art 1022', 'art 1022', 'art 1022', 'art 1022']

[Docket No. CFPB-2012-0041]
SUMMARY: Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and the Fair Credit Reporting Act (FCRA), as amended, the Bureau of Consumer Financial Protection (Bureau) published for public comment an interim final rule establishing a new Regulation V (Fair Credit Reporting) on December 21, 2011. This document corrects typographical and other technical errors in Appendices I, K, M, and N of the interim final rule, which contain model forms.
FOR FURTHER INFORMATION CONTACT: Monica Jackson, Bureau of Consumer Financial Protection, 1700 G Street NW., Washington, DC 20552, at (202) 435-7000.
On December 21, 2011, the Bureau published in theFederal Registeran interim final rule with request for public comment (76 FR 79307) establishing 12 CFR part 1022, Fair Credit Reporting (Regulation V), which implements the provisions of the FCRA for which the Bureau has rulemaking authority pursuant to the Dodd-Frank Act. The interim final rule includes, among other things, model forms in Appendices I (Summary of Consumer Identity Theft Rights), K (Summary of Consumer Rights), M (Notice of Furnisher Responsibilities), and N (Notice of User Responsibilities). As discussed in theSUPPLEMENTARY INFORMATIONto the interim final rule, Appendices I, K, M, and N of the interim final rule were intended to substantially duplicate the Federal Trade Commission's (FTC's) Appendices E, F, G, and H to 16 CFR part 698, respectively, with only certain non-substantive, technical, formatting, and stylistic changes. The model forms in Appendices I, K, M, and N to the Bureau's interim final rule contain several typographical or other technical errors. This document corrects those errors and more closely conforms theformatting of the Bureau's Appendices to those of the FTC.
In issuing the Bureau's Regulation V as an interim final rule, the Bureau found good cause to conclude that providing notice and opportunity for comment was unnecessary and contrary to the public interest.See76 FR 79308, 79310 (Dec. 21, 2011). The Bureau also finds that there is good cause to publish these corrections without seeking public comment.See5 U.S.C. 553(b)(B). Public comment is unnecessary because the Bureau is correcting inadvertent, technical errors about which there is minimal, if any, basis for substantive disagreement.
The Bureau also finds good cause to dispense with a 30-day delay of effective date.See5 U.S.C. 553(d). The Bureau believes that a delay is unnecessary and contrary to the public interest because the Bureau is merely making technical corrections to existing model forms. The Bureau will continue to regard the use of the model forms in the Bureau's Appendices I, K, M, and N published December 21, 2011, to constitute compliance with the FCRA provisions requiring such forms and will regard those forms to be substantially similar to the corrected forms published today, until further notice.
Banks, Banking, Consumer protection, Credit unions, Fair Credit Reporting Act, Holding companies, National banks, Privacy, Reporting and recordkeeping requirements, Savings associations, State member banks.
PART 1022—FAIR CREDIT REPORTING (REGULATION V) 1. The authority citation for part 1022 continues to read as follows: Authority:
2. Revise Appendix I to read as follows: Appendix I to Part 1022—Summary of Consumer Identity Theft Rights
BILLING CODE 4810-AM-P ER14NO12.039 ER14NO12.040 3. Revise Appendix K to read as follows: Appendix K to Part 1022—Summary of Consumer Rights
ER14NO12.041 ER14NO12.042 ER14NO12.043 4. Revise Appendix M to read as follows: Appendix M to Part 1022—Notice of Furnisher Responsibilities
ER14NO12.044 ER14NO12.045 ER14NO12.046 ER14NO12.047 5. Revise Appendix N to read as follows: Appendix N to Part 1022—Notice of User Responsibilities
ER14NO12.048 ER14NO12.049 ER14NO12.050 ER14NO12.051 ER14NO12.052 ER14NO12.053 ER14NO12.054 ER14NO12.055 ER14NO12.056 Dated: October 31, 2012. Richard Cordray, Director, Bureau of Consumer Financial Protection.