Request for Public Comment on Proposed Consumer Protection Rules for Affiliate Information Sharing

Effo - Federal Reserve Bank Of Dallas

Le téléchargement nécessite un accès à la bibliothèque YouScribe
Tout savoir sur nos offres

25 pages

English

Le téléchargement nécessite un accès à la bibliothèque YouScribe
Tout savoir sur nos offres

A propos
Informations
Extrait

Description

Informations

Publié par	Effo
Nombre de lectures	90
Langue	English

Extrait

Federal Reserve Bank
ll ★K
of Dallas
DALLAS, TEXAS
75265-5906
November 6, 2000
Notice 00-67
TO: The Chief Executive Officer of each
financial institution and others concerned
in the Eleventh Federal Reserve District
SUBJECT
Request for Public Comment on
Proposed Consumer Protection Rules for Affiliate
Information Sharing Practices
DETAILS
The Board of Governors of the Federal Reserve System, the Federal Deposit Insur-
ance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Super-
vision have requested public comment on proposed regulations implementing the provisions of
the Fair Credit Reporting Act (FCRA). The act permits institutions to communicate consumer
information to their affiliate (affiliate information sharing) without incurring the obligations of
consumer reporting agencies. These provisions authorize institutions to communicate among
their affiliates the following:
• Information regarding transactions or experiences between the consumer and the
person making the communication (transaction or experience information); and
• Other information (that is, information covered by the FCRA but not transaction
or experience information), provided that the institution has given notice to the
consumer that the other information may be communicated, the institution has
provided the consumer an opportunity to “opt out” (i.e., to direct that the informa-
tion not be communicated), and the consumer has not opted out.
The proposed regulations explain how to comply with the affiliate information and
sharing provisions, addressing such matters as the content and delivery of the notice to consum-
ers that “other” information may be communicated (opt out notice). Also, the proposed regula-
For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal
Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012;
Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810.- 2 -
tions implement certain related provisions. The agencies have attempted to conform these pro-
posed regulations to the final regulations implementing the privacy provisions of the Gramm-
Leach-Bliley Act whenever feasible.
The Board must receive comments by December 4, 2000. Please address comments to
Jennifer J. Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th and C
Streets, N.W., Washington, DC 20551. Also, you may mail comments electronically to
regs.comments@federalreserve.gov. All comments should refer to Docket No. R-1082.
ATTACHMENT
A copy of the Board’s notice as it appears on pages 63120–41, Vol. 65, No. 204 of the
Federal Register dated October 20, 2000, is attached.
MORE INFORMATION
For more information, please contact Eugene Coy, Banking Supervision Department,
(214) 922-6201. For additional copies of this Bank’s notice, contact the Public Affairs Depart-
ment at (214) 922-5254 or access District Notices on our web site at
http://www.dallasfed.org/banking/notices/index.html.Friday,
October 20, 2000
Part II
Department of the
Treasury
Office of the Comptroller of the
Currency
Office of Thrift Supervision
Federal Reserve System
Federal Deposit
Insurance Corporation
12 CFR Parts 41, 222, 334 and 571
Fair Credit Reporting Regulations;
Proposed Rule
VerDate 11<MAY>2000 13:23 Oct 19, 2000 Jkt 194001 PO 00000 Frm 00001 Fmt 4737 Sfmt 4737 E:\FR\FM\20OCP2.SGM pfrm04 PsN: 20OCP263120 Federal Register/Vol. 65, No. 204/Friday, October 20, 2000/Proposed Rules
explain how to comply with the affiliate between 9:00 a.m. and 4:30 p.m. onDEPARTMENT OF THE TREASURY
information sharing provisions, business days.
Office of the Comptroller of the addressing such matters as the content Comments may be submitted to the
Currency and delivery of the notice to consumers FDIC electronically over the Internet at
that ‘‘other’’ information may be www.fdic.gov. Further information
12 CFR Part 41 communicated (opt out notice). The concerning this option may be found
proposed regulations also implement below at ‘‘FDIC’s Electronic Public
[Docket No. 00–20]
certain related provisions. The Agencies Comment Site.’’ Comments also may be
RIN 1557–AB78 have attempted to conform these mailed electronically to
proposed regulations to the final comments@fdic.gov.
FEDERAL RESERVE SYSTEM regulations implementing the privacy OTS: Mail: Send comments to
provisions of the Gramm-Leach-Bliley Manager, Dissemination Branch,
12 CFR Part 222 Act whenever feasible. Information Management and Services
Division, Office of Thrift Supervision,[Regulation V; Docket No. R–1082] DATES: Comments must be received by
1700 G Street, NW., Washington, DCDecember 4, 2000.
FEDERAL DEPOSIT INSURANCE 20552, Attention Docket No. 2000–81.
ADDRESSES: Comments should be
CORPORATION Delivery: Hand deliver comments todirected to:
the Guard’s Desk, East Lobby Entrance,OCC: Communications Division,12 CFR Part 334 1700 G Street, NW., from 9:00 a.m. toOffice of the Comptroller of the
4:00 p.m. on business days, AttentionRIN 3064–AC35 Currency, 250 E Street, SW.,
Docket No. 2000–81.Washington, D.C. 20219, Attention:
Facsimiles: Send facsimileDEPARTMENT OF THE TREASURY Docket No. 00–20; FAX number (202)
transmissions to FAX Number (202)874–5274 or Internet address:
Office of Thrift Supervision 906–7755, Attention Docket No. 2000–regs.comments@occ.treas.gov.
81; or (202) 906–6956 (if comments areComments may be inspected and
12 CFR Part 571 over 25 pages).photocopied at the OCC’s Public
E-Mail: Send e-mails toReference Room, 250 E Street, SW.,[Docket No. 2000–81]
‘‘public.info@ots.treas.gov’’, AttentionWashington D.C. between 9:00 a.m. and
RIN 1550–AB33 Docket No. 2000–81, and include your5:00 p.m. on business days. You can
name and telephone number.make an appointment to inspect theFair Credit Reporting Regulations Public Inspection: Interested personscomments by calling (202) 874–5043.
may inspect comments at the Public
AGENCIES: Office of the Comptroller of Board: Comments, which should refer
Reference Room, 1700 G St. N.W., fromthe Currency, Treasury (OCC); Board of to Docket No. R–1082, may be mailed to
10:00 a.m. until 4:00 p.m. on TuesdaysGovernors of the Federal Reserve Ms. Jennifer J. Johnson, Secretary, Board
and Thursdays or obtain comments and/System (Board); Federal Deposit of Governors of the Federal Reserve
or an index of comments by facsimile byInsurance Corporation (FDIC); and System, 20th and C Streets, NW.,
telephoning the Public Reference RoomOffice of Thrift Supervision, Treasury Washington, D.C. 20551 or mailed
at (202) 906–5900 from 9:00 a.m. until(OTS). electronically to
5:00 on business days. Comments andregs.comments@federalreserve.gov.ACTION: Joint notice of proposed the related index will also be posted onComments addressed to Ms. Johnsonrulemaking. the OTS Internet Site atalso may be delivered to the Board’s
‘‘www.ots.treas.gov’’.SUMMARY: The OCC, Board, FDIC, and mail room between 8:45 a.m. and 5:15
OTS (Agencies) are publishing for p.m. and to the security control room FOR FURTHER INFORMATION CONTACT:
comment proposed regulations outside of those hours. Both the mail OCC: Amy Friend, Assistant Chief
implementing the provisions of the Fair room and the security control room are Counsel, (202) 874–5200; Michael
Credit Reporting Act (FCRA) that permit accessible from the courtyard entrance Bylsma, Director, Community and
institutions to communicate consumer on 20th Street between Constitution Consumer Law, (202) 874–5750;
information to their affiliates (affiliate Avenue and C Street, NW. Comments Stephen Van Meter, Senior Attorney,
information sharing) without incurring may be inspected in Room MP–500 Community and Consumer Law, (202)
the obligations of consumer reporting between 9:00 a.m. and 5:00 p.m., 874–5750; Carol Workman, Compliance
agencies. These provisions authorize pursuant to § 261.12, except as provided Specialist, Community and Consumer
institutions to communicate among in § 261.14, of the Board’s Rules Policy, (202) 874–4858; Deborah Katz,
their affiliates: Information as to Regarding the Availability of Senior Attorney, Legislative and
transactions or experiences between the Information, 12 CFR 261.12 and 261.14. Regulatory Activities Division, (202)
consumer and the person making the FDIC: Send written comments to 874–5090; or Jeffery Abrahamson,
communication (transaction or Robert E. Feldman, Executive Secretary, Attorney, Enforcement and Compliance,
experience information); and ‘‘other’’ Attention: Comments/OES, Federal (202) 874–4800, Office of the
information (that is, information Deposit Insurance Corporation, 550 17th Comptroller of the Currency, 250 E
covered by the FCRA but not transaction Street, NW., Washington, DC 20429. Street, SW., Washington, DC 20219.
or experience information), provided Comments may be hand delivered to the Board: James H. Mann, Senio