CFPBFinal Rule
Fair Credit Reporting Act; Preemption of State Laws
Finance & Banking
Ad Space (leaderboard)
Summary
This regulation clarifies which state laws about credit reporting are overridden by federal rules. It affects how credit reporting companies, lenders, and consumers are protected when there are conflicts between state and federal credit rules.
Key Points
- 1The federal Fair Credit Reporting Act sets national standards for how credit bureaus handle your personal financial information
- 2When state laws provide stronger protections than federal law, those state protections may still apply depending on specific circumstances
- 3The rule clarifies that federal law doesn't automatically erase all state consumer protections in the credit reporting area
- 4Credit bureaus and lenders need to understand which rules apply in each state to ensure they follow the strongest protections
- 5Consumers may have different rights depending on their state, as some states have their own additional credit reporting safeguards
Key Dates
Published
October 28, 2025
This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.
The Digest Network
Ad Space (rectangle)
Related Regulations
OCCFinance & Banking
Bank Appeals Process
IRSFinance & Banking
Updating Regulation References to Reflect Reorganizations at the Department of Justice and the Internal Revenue Service
FTCFinance & Banking