Consumer Financial Protection Bureau Rules 2012-13

TIME SENSITIVE, REPLY REQUIRED, EFFECTIVE JANUARY 1, 2013.

There is a newly created rulemaking authority for the Fair Credit Reporting Act (FCRA) named the Consumer Financial Protection Bureau (CFPB) working in conjunction with the Federal Trade Commission (FTC) to protect Consumers Rights. As such, there has been updates to the Forms required to you our clients as well as forms for the Concumers.

Specifically, when you deny a Consumer Appliant employment, rental or other credit, based on our reports, you need to send them a Summary of Their Rights Under the FCRA with their denial letter. Also, you were given a Notice to Data Users when you set up your account and there is an updated version of that Notice. You will be receiving an email from CBY on how to obtain these updated forms that go into effect as of January 1, 2013.

In addition the forms are available on this website www.cby.com by clicking on our Resources Tab then going to Forms and Sample Reports and the CFPB forms are listed in the first section.

Once you have obtained the forms, we would like you to email, fax or mail written confirmation that you understand your obligations and have received the necessary updated forms. If you have any questions please contact CBY Systems at 800-717-4229 x238 or x231.

Thank you for your cooperation and your continued business.

Steven H. Gohn, President, CBY Systems Inc.