Attn: President or CEO
The staff of the Consumer Financial Protection Bureau (CFPB) has become aware that
[Company Name] may not be in compliance with certain provisions of the Fair Credit Reporting Act
(FCRA) and its implementing regulation (Regulation V).
The CFPB enforces Federal consumer financial law, including the FCRA and Regulation V.
The FCRA requires nationwide specialty consumer reporting agencies (NSCRAs) to provide, upon
request of a consumer, a free annual disclosure of information in the consumer’s file. To implement
this requirement, Regulation V includes a rule mandated by the FCRA that requires each NSCRA to
establish a “streamlined process for consumers to request consumer reports . . . which shall include at a
minimum, the establishment by each such agency of a toll-free telephone number for such requests.”
15 U.S.C. § 1681j.
The rule requires NSCRAs to provide a toll-free number for consumers to request their free
annual file disclosures. 12 C.F.R. § 1022.137. The toll-free number must be published in every
telephone directory in which the nationwide specialty consumer reporting agency appears, and placed
“clearly and prominently” on any website it owns or m aintains that is related to consumer reporting.
12 C.F.R. § 1022.137(a)(1). The streamlined process must, inter alia, have adequate capacity to accept
requests from the reasonably anticipated volume of consumers requesting their file through the
streamlined process and must provide clear and easily understandable information and instructions to
consumers. 12 C.F.R. § 1022.137(a)(2).
We have reviewed [Company Name’s] website and business directory listings, and it appears
that [Company Name] may violate federal law in one or more of the following ways: (1) it does not
provide a toll-free number in its Yellow Pages listings and on its website for consumers to request their
free annual file disclosures; (2) it does not have adequate capacity to accept requests from the
reasonably anticipated volume of consumers requesting their annual file disclosures; or (3) it does not
provide clear and easily understandable information and instructions to consumers. Inability to access
consumer files limits consumers’ ability to dispute any inaccuracies in these files, which in turn can
diminish consumers’ ability to obtain credit, employment, or other services or benefits on favorable
While we have not made a final determination that [Company Name] is in violation of the
FCRA’s requirements, we urge you to review your telephone listings, website and policies to ensure
that you are in compliance with the laws identified above. We invite you to contact the Bureau within
30 days at the number listed below to advise us of the steps you have taken or will take to ensure
compliance with the laws identified above or, if you believe these legal requirements do not apply to
you, provide an explanation.
By sending you this letter, we do not waive the right of the Bureau to take action against you
based on past or future violations of the law. We will continue to monitor your company’s