On October 28, 2025, the CFPB published an interpretive rule to clarify that the Fair Credit Reporting Act (FCRA) generally preempts State laws that touch on broad areas of credit reporting, consistent with Congress's intent to create national standards for the credit reporting system. The interpretive rule replaces a July 2022 interpretive rule that the Bureau withdrew in May 2025.
The FCRA establishes national standards for consumer reports and, through section 1681t(b)(1), preempts certain state laws to ensure uniform federal regulation and prevent conflicting state requirements. On July 11, 2022, the CFPB issued an interpretive rule stating that section 1681t(b)(1) only limits a narrow set of state laws. It explained that most state laws about consumer reports are still valid unless they directly conflict with specific requirements in the FCRA. In May, the CFPB withdrew the 2022 interpretive rule, explaining that it is “committed to issuing guidance only where that guidance is necessary and would reduce compliance burdens rather than increase them.” According to the Bureau, the 2022 rule is neither necessary nor does it reduce compliance burdens. The CFPB stated that “the 2022 interpretive rule contradicted the plain text of section 1681t(b)(1), ignored the legislative history of the preemption clause, and reflected a misguided policy choice that would undermine the credit reporting system and credit markets.”
The full Interpretive Rule can be found here.