Title 15 — Commerce and TradeRelease 119-73
§1681w Disposal of records
Title 15 › Chapter CHAPTER 41— - CONSUMER CREDIT PROTECTION › Subchapter SUBCHAPTER III— - CREDIT REPORTING AGENCIES › § 1681w
Summary
Five federal agencies must issue final rules requiring anyone who keeps consumer information from consumer reports for business reasons to properly dispose of that information or lists made from it. The FTC, SEC, CFTC, the federal banking agencies, and the NCUA must coordinate so their rules are consistent and must follow Public Law 106–102 and other federal law. They may exempt certain people. The rules do not change other record‑keeping laws or force anyone to keep or destroy records beyond what other laws require.
Full Legal Text
Title 15, §1681w
Commerce and Trade — Source: USLM XML via OLRC
(a)(1)The Federal Trade Commission, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Federal banking agencies, and the National Credit Union Administration, with respect to the entities that are subject to their respective enforcement authority under section 1681s of this title, and in coordination as described in paragraph (2), shall issue final regulations requiring any person that maintains or otherwise possesses consumer information, or any compilation of consumer information, derived from consumer reports for a business purpose to properly dispose of any such information or compilation.
(2)Each agency required to prescribe regulations under paragraph (1) shall—
(A)consult and coordinate with each other such agency so that, to the extent possible, the regulations prescribed by each such agency are consistent and comparable with the regulations by each such other agency; and
(B)ensure that such regulations are consistent with the requirements and regulations issued pursuant to Public Law 106–102 and other provisions of Federal law.
(3)In issuing regulations under this section, the agencies identified in paragraph (1) may exempt any person or class of persons from application of those regulations, as such agency deems appropriate to carry out the purpose of this section.
(b)Nothing in this section shall be construed—
(1)to require a person to maintain or destroy any record pertaining to a consumer that is not imposed under other law; or
(2)to alter or affect any requirement imposed under any other provision of law to maintain or destroy such a record.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
Public Law 106–102, referred to in subsec. (a)(2)(B), is Pub. L. 106–102, Nov. 12, 1999, 113 Stat. 1338, known as the Gramm-Leach-Bliley Act. For complete classification of this Act to the Code, see
Short Title
of 1999 Amendment note set out under section 1811 of Title 12, Banks and Banking, and Tables.
Amendments
2010—Subsec. (a)(1). Pub. L. 111–203, § 1088(a)(12), substituted “The Federal Trade Commission, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Federal banking agencies, and the National Credit Union Administration, with respect to the entities that are subject to their respective
Enforcement
authority under section 1681s of this title,” for “Not later than 1 year after December 4, 2003, the Federal banking agencies, the National Credit Union Administration, and the Commission with respect to the entities that are subject to their respective
Enforcement
authority under section 1681s of this title, and the Securities and Exchange Commission,”. Subsec. (a)(3). Pub. L. 111–203, § 1088(a)(13), substituted “the agencies identified in paragraph (1)” for “the Federal banking agencies, the National Credit Union Administration, the Commission, and the Securities and Exchange Commission”.
Statutory Notes and Related Subsidiaries
Effective Date
of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
Effective Date
Section subject to joint
Regulations
establishing
Effective Date
s as prescribed by Federal Reserve Board and Federal Trade Commission, except as otherwise provided, see section 3 of Pub. L. 108–159, set out as an
Effective Date
of 2003 Amendment note under section 1681 of this title.
Reference
Citations & Metadata
Citation
15 U.S.C. § 1681w
Title 15 — Commerce and Trade
Last Updated
Apr 6, 2026
Release point: 119-73