Removal of Transferred OTS Regulations Regarding Fair Credit Reporting and Amendments; Amendment to the “Creditor” Definition in Identity Theft Red Flags Rule; Removal of FDIC Regulations Regarding Fair Credit Reporting Transferred to the Consumer Financial Protection Bureau
The Federal Deposit Insurance Corporation (FDIC) is adopting a final rule (Final Rule) to make several amendments to its regulations covering "Fair Credit Reporting." The amendments conform FDIC Fair Credit Reporting regulations to the Dodd-Frank Act by consolidating the regulations for all institutions for which the FDIC is the appropriate Federal banking agency into a single part. The amendments also address the role of the Consumer Financial Protection Bureau in promulgating rules relating to Fair Credit Reporting.