Fed Approves Three-Year Extension for Credit Info Collections
Published Date: 12/8/2025
Notice
Summary
The Federal Reserve Board just gave a thumbs-up to keep collecting info about credit reporting rules for three more years—no changes, no extra hassle. This affects banks and companies that handle credit info, helping keep things fair and clear for consumers. The update won’t cost extra or change deadlines, so everyone can keep doing their thing smoothly.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Paperwork Burden Continues for Depository Institutions
The Board's extension keeps the existing information-collection burden in place for respondents (listed as individuals and all depository institutions identified in 15 U.S.C. 1681s(b)(1)(A)(ii)), with a total estimated 282,070 respondents and 403,418 estimated annual burden hours. The extension is for three years, without revision, under OMB control number 7100-0308.
Regulation V Rules Extended Three Years
The Federal Reserve Board extended, for three years and without revision, the Recordkeeping and Disclosure Requirements tied to the CFPB's and the Board's Regulation V (FR V; OMB No. 7100-0308). This keeps in place the Fair Credit Reporting Act-related protections (accuracy, confidentiality, relevancy, and proper use of consumer credit information) for consumers of institutions identified in 15 U.S.C. 1681s(b)(1)(A)(ii).
Identity-Theft Red Flags Rules Remain In Force
The Board will continue, for three years and without revision, the identity theft 'red flags' provisions in the Board's Regulation V that apply to institutions of any size identified in 15 U.S.C. 1681s(b)(1)(A)(ii). This maintains existing identity-theft prevention and detection obligations under Regulation V.
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