Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
New FCRA allowable-charge ceiling announced
WASHINGTON (12/31/09)—As of Jan. 1, 2010, the Federal Trade Commission (FTC) ceiling on allowable charges under Section 612 Fair Credit Reporting Act (FCRA) drop to $10.50, down from the $11 ceiling this year. Section 612 of the FCRA covers when a consumer has a right to get a free credit report and 612(f) addresses the cost that a credit bureau can charge a consumer for a credit report that it doesn't have to give for free. Since 1996, the FTC has been required to increase an $8 figure referred in the law on Jan. 1 each year to reflect changes in the Consumer Price Index (``CPI''). According to the FTC, the CPI increased 33.98% between the 1997 FCRA effective date and September 2009. “This increase in the CPI, and the requirement that any increase be rounded to the nearest fifty cents, results in a maximum allowable charge of $10.50 effective January 1, 2010,” the FTC noted in it Federal Register document published Wednesday. Use the resource link below for more.
Other Resources

RSS print
News Now LiveWire
.@RepDennyHeck to @NWCUA Amplify conference audience: "More often than not, CUs are part of the solution"
8 hours ago
LA Laker and NBA Legend Earvin "Magic" Johnson was the keynote speaker Tuesday @CCULReach, hosted by the Cal/Nev #CreditUnion Leagues
8 hours ago
.@growfinancial's #salsa sensation spices up seed giveaway #NewsNow http://t.co/rKmWVwwzot
9 hours ago
.@TheNCUA Office of Small CU Initiatives soon--maybe Nov.--will launch website for #CUs 2 research #creditunion vendors or service providers
9 hours ago
.@TheNCUA says late 2Q Call Report filers 2 pay total of $17,111 in penalties.Individual penalty range is $52 to $1,824;median is $256. 2of2
9 hours ago