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2014-05-29
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Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003
Part IV
Rules and Regulations
D09002ee1bdd9dc6e
D09002ee1bdd9e15b
United States
Department of the Treasury
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org
United States Government Agency or Subagency
United States
Office of the Comptroller of the Currency
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org
United States Government Agency or Subagency
United States
Federal Reserve System
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org
United States Government Agency or Subagency
United States
Federal Deposit Insurance Corporation
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org
United States Government Agency or Subagency
United States
Department of the Treasury
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org
United States Government Agency or Subagency
United States
Office of Thrift Supervision
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org
United States Government Agency or Subagency
United States
National Credit Union Administration
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org
United States Government Agency or Subagency
United States
Federal Trade Commission
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org
United States Government Agency or Subagency
The OCC, Board, FDIC, OTS, NCUA and FTC (the Agencies) are jointly issuing final rules and guidelines implementing section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) and final rules implementing section 315 of the FACT Act. The rules implementing section 114 require each financial institution or creditor to develop and implement a written Identity Theft Prevention Program (Program) to detect, prevent, and mitigate identity theft in connection with the opening of certain accounts or certain existing accounts. In addition, the Agencies are issuing guidelines to assist financial institutions and creditors in the formulation and maintenance of a Program that satisfies the requirements of the rules. The rules implementing section 114 also require credit and debit card issuers to assess the validity of notifications of changes of address under certain circumstances. Additionally, the Agencies are issuing joint rules under section 315 that provide guidance regarding reasonable policies and procedures that a user of consumer reports must employ when a consumer reporting agency sends the user a notice of address discrepancy.
72 FR 63718
https://www.govinfo.gov/app/details/FR-2007-11-09/07-5453
07-5453
fr09no07-17
RIN 1557-AC87
RIN 3064-AD00
RIN 1550-AC04
RIN 3084-AA94
4810-33-P; 6210-01-P; 6714-01-P; 6720-01-P; 7535-01-P; 6750-01-P
Docket ID OCC-2007-0017
Docket No. R-1255
Docket No. OTS-2007-0019
https://www.govinfo.gov/app/details/FR-2007-11-09/07-5453
https://www.govinfo.gov/content/pkg/FR-2007-11-09/html/07-5453.htm
https://www.govinfo.gov/content/pkg/FR-2007-11-09/pdf/07-5453.pdf
Holding Companies
State Member Banks
Administrative Practice and Procedure
Bank Deposit Insurance
Safety and Soundness
Safety and Soundness
Banks
Banking
Consumer Protection
National Banks
Reporting and Recordkeeping Requirements
Credit
Fair Credit Reporting Act
Privacy
Savings Associations
Credit Unions
Fair Credit Reporting
58 p.
63718
63775
72 FR 63718
Code of Federal Regulations
Title 12 Part 222
12 CFR Part 222
Code of Federal Regulations
Title 12 Part 334
12 CFR Part 334
Code of Federal Regulations
Title 12 Part 364
12 CFR Part 364
Code of Federal Regulations
Title 12 Part 41
12 CFR Part 41
Code of Federal Regulations
Title 12 Part 571
12 CFR Part 571
Code of Federal Regulations
Title 12 Part 717
12 CFR Part 717
Code of Federal Regulations
Title 16 Part 681
16 CFR Part 681
Regulation Identification Number 1557-AC87
RIN 1557-AC87
Regulation Identification Number 3064-AD00
RIN 3064-AD00
Regulation Identification Number 1550-AC04
RIN 1550-AC04
Regulation Identification Number 3084-AA94
RIN 3084-AA94
Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003; Federal Register Vol. 72, Issue
RULE
07-5453
IV
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
NATIONAL CREDIT UNION ADMINISTRATION
FEDERAL TRADE COMMISSION
2008-01-01
2008-11-01
Docket ID OCC-2007-0017
Docket No. R-1255
Docket No. OTS-2007-0019
4810-33-P; 6210-01-P; 6714-01-P; 6720-01-P; 7535-01-P; 6750-01-P
07-5453
Joint final rules and guidelines.
The OCC, Board, FDIC, OTS, NCUA and FTC (the Agencies) are jointly issuing final rules and guidelines implementing section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) and final rules implementing section 315 of the FACT Act. The rules implementing section 114 require each financial institution or creditor to develop and implement a written Identity Theft Prevention Program (Program) to detect, prevent, and mitigate identity theft in connection with the opening of certain accounts or certain existing accounts. In addition, the Agencies are issuing guidelines to assist financial institutions and creditors in the formulation and maintenance of a Program that satisfies the requirements of the rules. The rules implementing section 114 also require credit and debit card issuers to assess the validity of notifications of changes of address under certain circumstances. Additionally, the Agencies are issuing joint rules under section 315 that provide guidance regarding reasonable policies and procedures that a user of consumer reports must employ when a consumer reporting agency sends the user a notice of address discrepancy.
The joint final rules and guidelines are effective January 1, 2008. The mandatory compliance date for this rule is November 1, 2008.
OCC: Amy Friend, Assistant Chief Counsel, (202) 874-5200; Deborah Katz, Senior Counsel, or Andra Shuster, Special Counsel, Legislative and Regulatory Activities Division, (202) 874-5090; Paul Utterback, Compliance Specialist, Compliance Department, (202) 874-5461; or Aida Plaza Carter, Director, Bank Information Technology, (202) 874-4740, Office of the Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.
Holding Companies
State Member Banks
Administrative Practice and Procedure
Bank Deposit Insurance
Safety and Soundness
Safety and Soundness
Banks
Banking
Consumer Protection
National Banks
Reporting and Recordkeeping Requirements
Credit
Fair Credit Reporting Act
Privacy
Savings Associations
Credit Unions
Fair Credit Reporting
Fair and Accurate Credit Transactions Act:
Identity theft red flags and address discrepancies,
Comments@FDIC.gov
Ira.Mills@ots.treas.gov
publicinfo@ots.treas.gov
regcomments@ncua.gov
regs.comments@federalreserve.gov
regs.comments@occ.treas.gov
http://censtats.census.gov/cgi-
http://censtats.census.gov/cgi-bin/cbpnaic/cbpsel.pl
http://www.bls.gov/ncs/ocs/sp/ncbl0910.pdf
http://www.census.gov/econ/census02/
http://www.fdic.gov/regulations/laws/federal/propose.html
http://www.fdic.gov/regulations/laws/federal/propose/html
http://www.federalreserve.gov
http://www.federalreserve.gov/boarddocs/srletters/2001/sr0111.htm
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm
http://www.ffiec.gov/guides.htm
http://www.ffiec.gov/pdf/authentication_guidance.pdf
http://www.ffiec.gov/press/pr101205.htm
http://www.ftc.gov/ftc/privacy.htm
http://www.ftc.gov/os/publiccomments.htm
http://www.ncua.gov/RegulationsOpinionsLaws/proposedregs/proposedregs.html
http://www.ots.treas.gov
http://www.reginfo.gov/public/do/PRAMain
http://www.regulations.gov
http://www.sba.gov/size/summary-whatis.html
https://secure.commentworks.com/ftc-redflags
regulations.gov
www.ncua.gov/news/quick_facts/quick_facts.html
Federal Register
Vol. 72, no. 217
Office of the Federal Register, National Archives and Records Administration
2007-11-09
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347 p.
Table of Contents:
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KF70.A2
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https://www.govinfo.gov/app/details/FR-2007-11-09
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