Fair Credit Reporting Act Policy

$425.00

The purpose of this Fair Credit Reporting Act Policy Template is to address measures a bank, credit union, fintech company, or other type of financial institution must take to ensure adherence to the Fair Credit Reporting Act (FCRA), as amended by The Fair and Accurate Credit Transactions Act (FACTA), to prevent the undue invasion of a consumer’s right to privacy in the process of collecting information and disseminating credit reports.  See more information about this product below.  In addition, we recommend adding a Product Update Protection Plan to your shopping cart to ensure you automatically receive an updated version of this policy template every time it is revised by us via e-mail within one year from the date of purchase.

Fair Credit Reporting Act Policy

The purpose of this Fair Credit Reporting Act Policy Template is to address measures a bank, credit union, fintech company, or other type of financial institution must take to ensure adherence to the Fair Credit Reporting Act (FCRA), as amended by The Fair and Accurate Credit Transactions Act (FACTA), to prevent the undue invasion of a consumer’s right to privacy in the process of collecting information and disseminating credit reports.

Table of Contents

  • Purpose and Contents – Topic 1
  • Policy Statement – Topic 2
  • Definitions – Topic 3
  • Structure of Accountability – Topic 4
  • Affiliate Marketing – Topic 5
  • Medical Information – Topic 6
  • Duties of Furnishers of Information – Topic 7
  • Duties of Users Regarding Obtaining and Using Consumer Reports – Topic 8
  • Duties of Users Regarding Risk Based Pricing – Topic 9
  • Identity Theft Program Policy – Topic 10
  • Obtaining Information and Sharing Among Affiliates – Topic 11
  • Disclosures to Consumers and Miscellaneous Requirements – Topic 12
  • Duties of Consumer Reporting Agencies Regarding Disclosures to Consumers – Topic 13
  • Miscellaneous Duties of Credit Reporting Agencies – Topic 14
  • No Surprises Act Applicability – Topic 15
  • Audit Policy – Topic 16
  • Staff Training – Topic 17
  • Retention of Documentation – Topic 18

*Includes the full text of our stand alone Identity Theft Program Policy Template.

Includes the following form templates:

Recent updates to this product:
11/15/22 Update
Federal Reserve’s FedPayments Improvement Group – Synthetic Identity Fraud Mitigation Toolkit
07/05/22 Update
CFPB Final Rule – Prohibition on Inclusion of Adverse Information in Consumer Reporting in Cases of Human Trafficking
03/01/22 Update
Federal Reserve Press Release – Unmasking a Synthetic Identity Fraud Mitigation Toolkit
02/01/22 Update
CFPB Bulletin 2022-01 – Medical Debt Collection and Consumer Reporting Requirements in Connection with the No Surprises Act
04/15/21 Update
CFPB Press Release – CFPB Rescinds Series of Policy Statements to Ensure Industry Complies with Consumer Protection Laws
04/15/20 Update
CFPB Press Release – CFPB Issues Credit Reporting Guidance During COVID-19 Pandemic

This Fair Credit Reporting Act Policy Template (approximately 136 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.

Want to ensure your purchase from BankPolicies.com remains current? Add a Product Update Protection Plan to your shopping cart to ensure that you will automatically receive an updated version every time it is revised via e-mail within one year from the last date of purchase. This timely and cost-effective solution ensures that you stay on top of federal regulatory changes and industry recommended best practices.

When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.

BankPolicies.com provides your financial institution with the best bank policy template products available in the industry. You will always be up to date with the latest changes to bank policies and never have to worry about being out of compliance with the various laws, rules and regulations issued by the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of the Comptroller of the Currency (OCC), or other federal regulatory bodies that may apply to your organization.

Our dedicated staff of career banking industry professionals are ready to keep your financial institution up to date with the latest bank policy standards and industry best practices. Purchase your bank policies from us today and rest easy knowing you have the right team helping you and your organization stay compliant. We look forward to earning your business for all of your bank policy needs.

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