Bulletin 2012-09 Re: FCRA’s Streamlined Process Requirement for Consumers to Obtain Free Annual Reports (Nov. 29, 2012)

The Fair Credit Reporting Act (FCRA) requires nationwide specialty consumer reporting agencies (NSCRAs) to provide, upon request of a consumer, a free annual disclosure of the consumer’s file, commonly known as a consumer report. The FCRA’s implementing Regulation (Regulation V) includes a rule mandated by the FCRA that requires each NSCRA to establish a “streamlined process for consumers to request [their free annual] 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; 12 C.F.R. § 1022.137. Pursuant to Regulation V, this streamlined process must permit consumers to request an annual file disclosure through a toll-free telephone number that is published “in any telephone directory in which any telephone number for the [NSCRA] is published” and is “clearly and prominently posted on any Web site owned or maintained by the [NSCRA] that is related to consumer reporting.” 12 C.F.R. § 1022.137(a)(1)(ii)–(iii). The streamlined process must, among other things, have adequate capacity to accept requests from the reasonably anticipated volume of consumers requesting their annual file disclosures through the streamlined process and must provide clear and easily understandable information and instructions to consumers. 12 C.F.R. § 1022.137(a)(2). It has come to the attention of the CFPB that some NSCRAs may not have established the required streamlined process for consumers to request copies of their annual file disclosures. The Bureau is issuing this Bulletin to remind the NSCRAs of their obligation to comply with the streamlined process requirement, which the Bureau views as an important consumer protection.