Fair Credit Reporting Risk-Based Pricing Regulations; Correction, 30814-30818 [E8-11961]

Download as PDF 30814 Proposed Rules Federal Register Vol. 73, No. 104 Thursday, May 29, 2008 This section of the FEDERAL REGISTER contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules. FEDERAL RESERVE SYSTEM 12 CFR Part 222 [Regulation V; Docket No. R–1316] FEDERAL TRADE COMMISSION 16 CFR Part 698 RIN 3084–AA94 Fair Credit Reporting Risk-Based Pricing Regulations; Correction Board of Governors of the Federal Reserve System (Board) and Federal Trade Commission (Commission). ACTION: Notice of proposed rulemaking; correction. AGENCIES: This document contains corrections to proposed rules published in the Federal Register on May 19, 2008 (73 FR 28966) implementing the risk- rfrederick on PRODPC75 with PROPOSALS SUMMARY: VerDate Aug<31>2005 15:11 May 28, 2008 Jkt 214001 based pricing provisions in section 311 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). FOR FURTHER INFORMATION CONTACT: Board: Amy E. Burke, Senior Attorney, Division of Consumer and Community Affairs, (202) 452–3667 or (202) 452– 2412; or Andrea K. Mitchell, Senior Attorney, Legal Division, (202) 452– 2458, Board of Governors of the Federal Reserve System, 20th and C Streets, NW., Washington, DC 20551. For users of a Telecommunications Device for the Deaf (TDD) only, contact (202) 263– 4869. Commission: Kellie Cosgrove Riley, Senior Attorney, or Stacey Brandenburg, Attorney, Division of Privacy and Identity Protection, Bureau of Consumer Protection, (202) 326–2252, Federal Trade Commission, 600 Pennsylvania Avenue, NW., Washington, DC 20580. SUPPLEMENTARY INFORMATION: Background On May 19, 2008, the Board and the Commission published in the Federal Register proposed rules (73 FR 28966) to implement the risk-based pricing provisions in section 311 of the FACT Act. The proposal includes model forms PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 that creditors can use to comply with the requirements of the proposed rules. Need for Correction Due to a technical error, the second page of Model form H–4 of the Board’s proposal and Model form B–4 of the Commission’s proposal, as published, erroneously included a row entitled ‘‘Key factors that adversely affected your credit score.’’ As discussed in the preamble to the proposed rules, the notice provided in connection with the credit score disclosure exception for non-mortgage credit is not required to include the key factors that affected the credit score (73 FR 28983). This document corrects this error by amending Model forms H–4 and B–4 to delete this row. Correction of Publication The proposed rule, FR Doc. E8–10640, published in the Federal Register on May 19, 2008 (73 FR 28966) is corrected as follows: PART 222—[CORRECTED] 1. On pages 29004–29005, Model form H–4 is corrected to read as follows: BILLING CODE 6210–01–P E:\FR\FM\29MYP1.SGM 29MYP1 VerDate Aug<31>2005 15:11 May 28, 2008 Jkt 214001 PO 00000 Frm 00002 Fmt 4702 Sfmt 4725 E:\FR\FM\29MYP1.SGM 29MYP1 30815 EP29my08.002</GPH> rfrederick on PRODPC75 with PROPOSALS Federal Register / Vol. 73, No. 104 / Thursday, May 29, 2008 / Proposed Rules 30816 Federal Register / Vol. 73, No. 104 / Thursday, May 29, 2008 / Proposed Rules PART 698—[CORRECTED] VerDate Aug<31>2005 15:11 May 28, 2008 Jkt 214001 PO 00000 Frm 00003 Fmt 4702 Sfmt 4702 E:\FR\FM\29MYP1.SGM 29MYP1 EP29my08.003</GPH> rfrederick on PRODPC75 with PROPOSALS 2. On pages 29018–29019, Model form B–4 is corrected to read as follows: VerDate Aug<31>2005 15:11 May 28, 2008 Jkt 214001 PO 00000 Frm 00004 Fmt 4702 Sfmt 4725 E:\FR\FM\29MYP1.SGM 29MYP1 30817 EP29my08.004</GPH> rfrederick on PRODPC75 with PROPOSALS Federal Register / Vol. 73, No. 104 / Thursday, May 29, 2008 / Proposed Rules 30818 Federal Register / Vol. 73, No. 104 / Thursday, May 29, 2008 / Proposed Rules BILLING CODE 6210–01–P, 6750–01–C NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 721 RIN 3133–AD12 Incidental Powers National Credit Union Administration (NCUA). ACTION: Proposed rule. rfrederick on PRODPC75 with PROPOSALS AGENCY: SUMMARY: NCUA proposes to amend its regulation governing a federal credit union’s (FCU’s) incidental powers by adding illustrations of permissible activities under the categories of correspondent services, operational programs, and finder activities. These VerDate Aug<31>2005 15:11 May 28, 2008 Jkt 214001 amendments will provide useful information to FCUs by clarifying and updating the illustrations regarding permissible activities. DATES: Comments must be received on or before July 28, 2008. ADDRESSES: You may submit comments by any of the following methods (Please send comments by one method only): • NCUA Web Site: http:// www.ncua.gov/news/proposed_regs/ proposed_regs.html. Follow the instructions for submitting comments. • E-mail: Address to regcomments@ncua.gov. Include ‘‘[Your name] Comments on Notice of Proposed Rulemaking (Incidental Powers)’’ in the e-mail subject line. • Fax: (703) 518–6319. Use the subject line described above for e-mail. • Mail: Address to Mary Rupp, Secretary of the Board, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314– 3428. • Hand Delivery/Courier: Same as mail address. FOR FURTHER INFORMATION CONTACT: Justin M. Anderson, Staff Attorney, Office of General Counsel, at the above address or telephone (703) 518–6540. SUPPLEMENTARY INFORMATION: PO 00000 Frm 00005 Fmt 4702 Sfmt 4702 A. Background NCUA’s policy is to review regulations periodically to ‘‘update, clarify and simplify existing regulations and eliminate redundant and unnecessary provisions.’’ Interpretive Ruling and Policy Statement (IRPS) 87– 2, Developing and Reviewing Government Regulations. NCUA notifies the public about the review, which is conducted on a rolling basis so that a third of its regulations are reviewed each year. This proposed rule is the result of NCUA’s 2007 review under IRPS 87–2, which covered the middle third of the regulations, including part 721. The proposed changes are intended to update and clarify the regulation. Part 721 describes the incidental powers an FCU may exercise under the incidental powers authority in the Federal Credit Union Act (Act), which provides an FCU may ‘‘exercise such incidental powers as shall be necessary or requisite to enable it to carry on effectively the business for which it was incorporated.’’ 12 U.S.C. 1775(17). The current part 721 resulted from a rulemaking involving an advance notice of proposed rulemaking in 1999, a proposed rule in 2000, and a final rule E:\FR\FM\29MYP1.SGM 29MYP1 EP29my08.005</GPH> By order of the Secretary of the Board acting under delegated authority, May 22, 2008. Robert deV. Frierson, Deputy Secretary of the Board, Federal Reserve System. By direction of the Commission. Donald S. Clark, Secretary, Federal Trade Commission. [FR Doc. E8–11961 Filed 5–28–08; 8:45 am]

Agencies

[Federal Register Volume 73, Number 104 (Thursday, May 29, 2008)]
[Proposed Rules]
[Pages 30814-30818]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-11961]


========================================================================
Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

========================================================================


Federal Register / Vol. 73, No. 104 / Thursday, May 29, 2008 / 
Proposed Rules

[[Page 30814]]



FEDERAL RESERVE SYSTEM

12 CFR Part 222

[Regulation V; Docket No. R-1316]

FEDERAL TRADE COMMISSION

16 CFR Part 698

RIN 3084-AA94


Fair Credit Reporting Risk-Based Pricing Regulations; Correction

AGENCIES: Board of Governors of the Federal Reserve System (Board) and 
Federal Trade Commission (Commission).

ACTION: Notice of proposed rulemaking; correction.

-----------------------------------------------------------------------

SUMMARY: This document contains corrections to proposed rules published 
in the Federal Register on May 19, 2008 (73 FR 28966) implementing the 
risk-based pricing provisions in section 311 of the Fair and Accurate 
Credit Transactions Act of 2003 (FACT Act).

FOR FURTHER INFORMATION CONTACT: Board: Amy E. Burke, Senior Attorney, 
Division of Consumer and Community Affairs, (202) 452-3667 or (202) 
452-2412; or Andrea K. Mitchell, Senior Attorney, Legal Division, (202) 
452-2458, Board of Governors of the Federal Reserve System, 20th and C 
Streets, NW., Washington, DC 20551. For users of a Telecommunications 
Device for the Deaf (TDD) only, contact (202) 263-4869.
    Commission: Kellie Cosgrove Riley, Senior Attorney, or Stacey 
Brandenburg, Attorney, Division of Privacy and Identity Protection, 
Bureau of Consumer Protection, (202) 326-2252, Federal Trade 
Commission, 600 Pennsylvania Avenue, NW., Washington, DC 20580.

SUPPLEMENTARY INFORMATION:

Background

    On May 19, 2008, the Board and the Commission published in the 
Federal Register proposed rules (73 FR 28966) to implement the risk-
based pricing provisions in section 311 of the FACT Act. The proposal 
includes model forms that creditors can use to comply with the 
requirements of the proposed rules.

Need for Correction

    Due to a technical error, the second page of Model form H-4 of the 
Board's proposal and Model form B-4 of the Commission's proposal, as 
published, erroneously included a row entitled ``Key factors that 
adversely affected your credit score.'' As discussed in the preamble to 
the proposed rules, the notice provided in connection with the credit 
score disclosure exception for non-mortgage credit is not required to 
include the key factors that affected the credit score (73 FR 28983). 
This document corrects this error by amending Model forms H-4 and B-4 
to delete this row.

Correction of Publication

    The proposed rule, FR Doc. E8-10640, published in the Federal 
Register on May 19, 2008 (73 FR 28966) is corrected as follows:

PART 222--[CORRECTED]

    1. On pages 29004-29005, Model form H-4 is corrected to read as 
follows:
BILLING CODE 6210-01-P

[[Page 30815]]

[GRAPHIC] [TIFF OMITTED] TP29MY08.002


[[Page 30816]]


[GRAPHIC] [TIFF OMITTED] TP29MY08.003

PART 698--[CORRECTED]

    2. On pages 29018-29019, Model form B-4 is corrected to read as 
follows:

[[Page 30817]]

[GRAPHIC] [TIFF OMITTED] TP29MY08.004


[[Page 30818]]


[GRAPHIC] [TIFF OMITTED] TP29MY08.005


    By order of the Secretary of the Board acting under delegated 
authority, May 22, 2008.
Robert deV. Frierson,
Deputy Secretary of the Board, Federal Reserve System.
    By direction of the Commission.
Donald S. Clark,
Secretary, Federal Trade Commission.
[FR Doc. E8-11961 Filed 5-28-08; 8:45 am]
BILLING CODE 6210-01-P, 6750-01-C