Bankowość · 07/11/2007

OCC, Agencies Publish Final Rules on Affiliate Marketing Regulations for Credit Reporting

The Office of the Comptroller of the Currency (OCC), along with the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the National Credit Union Administration (NCUA), are releasing final rules to implement affiliate marketing provisions in the Fair and Accurate Credit Transactions Act of 2003, which updates the Fair Credit Reporting Act. The new rules restrict the use of affiliate information for marketing purposes to consumers unless they receive prior notice and an opportunity to opt out.