The FTC proposal to clarify that Parts 642 ("Prescreen Opt-Out Notice") and 698 ("Model Forms and Disclosures") under the Fair Credit Reporting Act ("FCRA") apply only to motor vehicle dealers was published in the Federal Register.
As highlighted in previous coverage, Congress transferred authority for the regulation of other types of entities to the CFPB. The FTC is seeking feedback on the general effectiveness and necessity of the rules.
Comments on the proposal must be submitted by December 7, 2020.
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