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Dual Enforcement of the FCRA

September 14, 2012

Last year around this time, the Federal Trade Commission, which has been enforcing the FCRA since the law first became effective circa 1970, noted that under new legislation, the new Consumer Financial Protection Bureau would be enforcing the FCRA.  I noted the change and wondered aloud whether the FTC would continue to play a role in FCRA enforcement.

This week, we got an answer to that question:  yes.  The FTC testified to Congress that it still considers FCRA enforcement to be an agency priority.  This means that there will for the foreseeable future be dual enforcement of the FCRA:  by both the FTC and the CFPB.

Should be interesting, especially if the agencies take different approaches to what particular FCRA provisions mean.

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Categories: Uncategorized
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