CFPB Issues Final Rule to Update Contact Information

On March 17^th, the CFPB issued a Final Rule to update contact information for several different regulations, including Regulations B, E, F, V, X, Z, and DD! Whew!

Thankfully, most of these changes won’t likely impact many of you, as the new contact information is used primarily to request a regulatory interpretation or exemption or even to request official guidance documentation. That said, this Final Rule does make changes to the regulatory addresses for several agencies that must be included on your Adverse Action Notices.

The Final Rule is effective April 19, 2023; however, the changes to the contact information for Adverse Action Notices are not mandatory until March 20, 2024.

Regulation B - Adverse Action Notices

Below, we’ve included the updates for the CFPB, FDIC, OCC, and NCUA. Please note that updates were also made to other agencies, including the USDA, SBA, SEC, and the FTC. Refer to the Final Rule for those changes.

• CFPB:

Bureau of Consumer Financial Protection

1700 G Street NW

Washington, DC 20552

• FDIC:

Division of Depositor and Consumer Protection, National Center for Consumer and Depositor Assistance

Federal Deposit Insurance Corporation

1100 Walnut Street, Box #11

Kansas City, MO 64106

• OCC:

Office of the Comptroller of the Currency

Customer Assistance Group

P.O. Box 53570

Houston, TX 77052

• NCUA:

National Credit Union Administration

Office of Consumer Financial Protection (OCFP), Division of Consumer Compliance Policy and Outreach

1775 Duke Street

Alexandria, VA 22314

Regulation V – Fair Credit Reporting Act

Contact information in Regulation V, which implements the Fair Credit Reporting Act, is also being updated. This will impact the “Summary of Consumer Rights”, which is to be provided by consumer reporting agencies in certain circumstances. This Notice may also be triggered if you use consumer reports for employment purposes. We recommend checking with your Human Resources department to see if this will impact them as well. If so, the mandatory compliance date for these updates is also March 20, 2024.

Published
2023/03/30