FTC Rescinding Several FCRA Model Forms

The Federal Trade Commission (FTC) has published at 84 FR 23471 in a recent Federal Register a final rule rescinding several Model Forms and Disclosures issued under the Fair Credit Reporting Act (“FCRA”) that it has determined are no longer necessary. Given the CFPB's 2018 updates to its model forms and disclosures, the Commission determined that rescinding several of its model forms and disclosures would reduce confusion. The Commission also made conforming amendments to address references to the updated model forms and disclosures in related rules.

The amendments, which were effective May 22, remove current appendices A and D through H in 16 CFR part 698, re-designating current appendices B (Model Forms for Risk-Based Pricing and Credit Score Exception Notices) and C (Model Forms for Affiliate Marketing Opt-Out Notices) as appendices A and B. This final rule includes a table of rescinded 16 CFR part 698 appendices and the corresponding CFPB appendices taking their place.