Fair Credit Reporting Act: Adverse Action Notice Requirements for Users of Credit Scores to Take Effect July 21, 2011

Among the many changes enacted as a part of last year’s Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-209) (Dodd- Frank) is an amendment to the Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et. seq., which will require any person (not only creditors) that uses a credit score to take an adverse action against a consumer to make additional disclosures to consumers as part of the adverse action notice already required by FCRA Section 615(a), 15 U.S.C. § 1681m(a).

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