The Federal Trade Commission announced that it is seeking comment on proposed changes that would bring several rules implementing parts of the Fair Credit Reporting Act (FCRA) in line with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). In separate Notices of Proposed Rule Making (NPRMs), which will be published in the Federal Register shortly, the FTC proposed changes that would clarify that five FCRA rules promulgated by the FTC apply only to motor vehicle dealers. The Dodd-Frank Act, enacted in 2010, transferred rulemaking authority related to parts of the FCRA to the Consumer Financial Protection Bureau, narrowing the FTC’s FCRA rulemaking authority for these rules. A description of what the FTC is seeking comment on can be found at the FTC’s press release, here:
https://www.ftc.gov/news-events/press-releases/2020/08/ftc-seeks-comment-changes-effectiveness-five-fcra-rules?utm_source=govdelivery