On March 17th, 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.
Bureau of Consumer Financial Protection
1700 G Street NW
Washington, DC 20552
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
Office of the Comptroller of the Currency
Customer Assistance Group
P.O. Box 53570
Houston, TX 77052
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