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1.4.7 1997 and 1999 Amendments

In 1997, Congress adopted a narrow exception to the rule that a person using a report of employment must make certain disclosures to the consumer before taking an adverse action. The exception applies to certain national security uses by the federal government, properly documented; in those cases the disclosure rule is superseded by other requirements.261

In 1999, Congress amended the FCRA as part of the Gramm-Leach-Bliley Act to lift the prohibition against the FTC or other administrative enforcement agencies from prescribing trade regulation rules and other rules in relation to the FCRA.262 Congress also removed the prohibition against federal banking regulators263 conducting examinations of banks, savings associations, or credit unions regarding FCRA compliance.264 In addition, the amendments deleted a provision authorizing the Federal Reserve Board to issue interpretations of the FCRA in consultation with the FTC, and replaced it with a provision under which the federal banking regulators were authorized to jointly prescribe any regulations necessary to carry out the purposes of the FCRA with respect to designated banks and lending institutions.265


  • 261 {256} 15 U.S.C. § 1681b(b)(4).

  • 262 {257} Pub. L. No. 106-102, § 506(b) (1999) (striking 15 U.S.C. § 1681s(a)(4)).

  • 263 {258} The federal banking regulators at that time were the Office of the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration.

  • 264 {259} 15 U.S.C. § 1681s(d), as amended by Pub. L. No. 106-102, § 506(a) (1999).

  • 265 {260} 15 U.S.C. § 1681s(e) (2009), as amended by Pub. L. No. 106-102, § 506(a) (1999). This provision was subsequently amended by the Dodd-Frank Act, which granted general rulemaking authority to the Consumer Financial Protection Bureau in lieu of the federal banking regulators. See § 1.4.11, infra.