CFPB Issues Correction on Agency Contact Information

On August 25, 2023, the CFPB issued technical corrections to the “Agency Contact Information” final rule that it published in the Federal Register on March 20, 2023. The final rule made non-substantive corrections and updates to Bureau and other Federal agency contact information found at certain locations in Regulations B, E, F, J, V, X, Z, and DD, including Federal agency contact information that must be provided with Equal Credit Opportunity Act adverse action notices and the Fair Credit Reporting Act Summary of Consumer Rights.

The Bureau has identified four clerical errors in the said final rule, namely:

  • The address of the NCUA found in appendix A to Regulation B that Federal Credit Unions must provide on adverse action notices;

  • The toll-free opt-out phone number on page two of the Fair Credit Reporting Act Summary of Consumer Rights (in Appendix K to Regulation V);

  • the title on page four of that Summary of Rights that reads “Assistant General Counsel for Office of Aviation Protection” should read “Assistant General Counsel for Office of Aviation Consumer Protection"; and

  • In comment appendix J-2 to Regulation Z, the web address at the end of the text is corrected.

The corrections do not impose any new or revise any existing recordkeeping, reporting, or disclosure requirements on covered entities.

The technical correction can be found here.

VIDEO: An Example of Disparate Impact

VIDEO: An Example of Disparate Impact

CFPB Sues Heights Finance For Illegal Loan-Churning Practices