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Joint Trades Request for FCRA ANPR
Dear Director Chopra:
On September 15, the Consumer Financial Protection Bureau (CFPB or the Bureau) unveiled potentially sweeping changes to the Fair Credit Reporting Act (FCRA) rules (Regulation V) when it issued its “Outline of Proposals and Alternatives Under Consideration for the Small Business Advisory Review Panel for Consumer Reporting Rulemaking.”1 The undersigned trade associations urge the CFPB to issue an Advanced Notice of Proposed Rulemaking (ANPR) before it publishes a Notice of Proposed Rulemaking (NPRM) to amend Regulation V. A rushed, inadequate rulemaking process raises the stakes for dramatic changes to the foundation of the American economy.