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CUNA Regulatory Comment Call

July 16, 2004

• The Federal Trade Commission (FTC) has published for public comment two summaries of rights and two notices of duties that are required under the Fair Credit Reporting Act (FCRA), as amended by the Fair and Accurate Credit Transactions (FACT) Act. These documents will be distributed by credit reporting agencies (CRAs), not by credit unions.



• The two proposals regarding the summaries of rights are:
  • A new summary of rights of identity theft victims under the FCRA.
  • Revisions to the current summary of general consumer rights under the FCRA.
  
  
• The two proposals regarding the notices are:
• Revisions to the current notice on the FCRA duties of furnishers of information to CRAs.
• Revisions to the current notice on the duties of users of information from CRAs.


• Comments are due to the FTC by August 16, 2004. If you would like a copy of the FTC’s request, please access it on the Internet at the following address, which also provides detailed information on how to submit comments:
  
  http://www.ftc.gov/os/2004/07/040709fcrafrnfinal.pdf



• Please provide CUNA with a copy of your comments. You may fax your responses to CUNA at 202-638-7052; e-mail them to Associate General Counsel Mary Dunn at mdunn@cuna.coop and to Assistant General Counsel Jeff Bloch at jbloch@cuna.coop; or mail them to Mary and Jeff in c/o CUNA’s Regulatory Advocacy Department, 601 Pennsylvania Avenue, NW, South Building, Suite 600, Washington, DC 20004-2601.