To All Depository Institutions and Others Concerned
in the Second Federal Reserve District:
The federal bank, thrift, and credit union regulatory agencies are publishing interim final rules under section 411 of the Fair Credit Reporting Act (FCRA) that create exceptions to the statutory prohibition against obtaining or using medical information in connection with credit eligibility determinations. The interim final rules also address the sharing of medically related information among affiliates.
The interim final rules are being issued by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency and the Office of Thrift Supervision.
The rules are being issued as interim final rules to allow for public comment on their expanded scope. The agencies request comment within thirty days after publication in the Federal Register.
Legal and Compliance Risk Department