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Both have specific disclosure requirements when credit cannot be extended to an applicant under the requested terms. While ECOA and Regulation B protect an applicant against unlawful discrimination, FCRA and Regulation V protect the consumer's credit profile.

The Bureau is amending Appendix O to Regulation V, which implements the FCRA, to establish the maximum allowable charge for disclosures by a consumer reporting agency to a consumer for 2023. The maximum allowable charge will be $14.50 for 2023.

Examples of permissible purposes include subpoenas or court orders, written instructions from the consumer, credit transactions with a consumer, employment purposes with written authorization from a consumer, insurance underwriting purposes, tenant screening, and national security investigations.

A claim under the FCRA must be brought in federal district court not later than ?2 years after the date of discovery by the plaintiff of the violation that is the basis for such liability or 5 years from the date on which the cause of action arose, whichever is earlier.? 15 U.S.C.

It is the purpose of this subchapter to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy ...

Turning to subsection 1681s-2(b), that section specifies what happens after a credit reporting agency receives notice of a dispute from the consumer pursuant to section 1681i(a)(2), of his or her dispute with regard to the completeness or accuracy of information provided by a person ?to the credit reporting agency.?