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Informational Memorandum
Subject:Consumer Credit Reporting Reform Act of 1996
Date of Memorandum:02/10/1998
Expiration Date:
Office:OE
Signed By:Smith, Roland
FCA Contact Person:Holland, Tom
Contact Phone:703-883-4484
List of Attachments:Fair Credit Reporting Act and "A Summary of....."

INFORMATIONAL MEMORANDUM



February 10, 1998


To: The Chief Executive Officer
All Farm Credit System Institutions

From: Roland E. Smith, Director /s/
Office of Examination

Subject: Consumer Credit Reporting Reform Act of 1996


The Consumer Credit Reporting Reform Act of 1996 (Reform Act), signed into law September 30, 1996, substantially amended the Fair Credit Reporting Act (FCRA). Most of the changes incorporated by the Reform Act took effect September 30, 1997, have a significant impact on Farm Credit System institutions that furnish information to, and use information from, consumer reporting agencies.

Attached is a copy of the revised text of the FCRA as amended. This document was prepared by the Federal Trade Commission as a public service and is complete as of March 17, 1997. Also included is a document entitled "A Summary of Your Rights Under the Fair Credit Reporting Act." For questions and concerns regarding the FCRA, please contact the:

Federal Trade Commission
Consumer Response Center--FCRA
Washington, DC 20580
Phone: (202) 326-3761

If you have any questions regarding this document or similar previous documents, please call Thomas J. Holland, Director, Special Examination and Supervision Division, Office of Examination at (703) 883-4483.

Attachments