Banking Regulations Compliance | Risk Based Pricing Notice & More

In case you forgot, effective January 1, 2013, both the Risk Based Pricing Notice (RBPN) and Credit Score Disclosure (CSD) are required to reference the CFPB instead of the Federal Reserve.  Specifically, in the “How can you get more information about credit reports?” (RBPN) and the “How can you get more information?” (CSD) section it should state:

For more information about credit reports and your right under Federal law, visit the Consumer Financial Protection Bureau’s website at www.consumerfinance.gov/learnmore.

For many banks, this change will need to be made by your credit reporting agency.

Published
2012/12/26
Amy Kudlacek