The FTC has issued five notices of proposed rulemaking seeking comments on changes to five rules that implement the Fair Credit Reporting Act. Comments will be due no later than 75 days after the date the NPRMs are published in the Federal Register.
The Dodd-Frank Act transferred the FTC’s rulemaking authority under parts of the FCRA to the CFPB. It also narrowed the FTC’s rulemaking authority with respect to other FCRA rules to cover only motor vehicle dealers that are predominately engaged in the sale and servicing of motor vehicles, the leasing and servicing of motor vehicles, or both. For each of the five rules listed below, the FTC has proposed amendments to reflect their limited coverage. In addition, in connection with the FTC’s periodic review of its rules and guides, each NPRM contains a series of questions on which the FTC seeks comments.
The NPRMs propose changes to the following rules: FULL ARTICLE