Federal Reserve and Federal Trade Commission Issue Risk-Based Pricing Notice Rule

On December 22, 2009, the Board of Governors of the Federal Reserve System and the Federal Trade Commission jointly issued a final rule to implement the requirements of Section 615(h) of the federal Fair Credit Reporting Act. Section 615(h) was added by the Fair and Accurate Credit Transactions Act and provides for so-called ‘risk-based pricing’ notices. The rule will come into effect on January 1, 2011.

This Sidley Update was republished by ILO in its Trade & Customs Newsletter.