source:
  type: regulation
  id: fcra-15usc-1681m
  authority: 15 U.S.C. §1681m — Requirements on users of consumer reports
  description: 'Imposes adverse-action notice duties on any user (including

    [LENDER]) that takes adverse action based in whole or in part on

    information in a consumer report. Also governs duties when

    adverse action is based on third-party (non-CRA) or affiliate

    information, and authorizes the Red Flags / address-discrepancy

    rules.

    '
obligations:
- id: fcra-15usc-1681m-a
  canonical_id: fcra-15usc-1681m-a
  section: 15 U.S.C. §1681m(a)
  description: '(a): (a) Duties of users taking adverse actions on basis of information contained in consumer
    reports If any person takes any adverse action with respect to any consumer that is based in whole
    or in part on any information contained in a consumer report , the person shall— (1) provide oral,
    written, or e…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (a) Duties of users taking adverse actions on basis of information contained in consumer
      reports If any person takes any adverse action with respect to any consumer that is based in whole
      or in part on any information contained in a consumer report , the person shall— (1) provide oral,
      written, or electronic notice of the adverse action to the consumer; (2) provide to the consumer
      written or electronic disclosure— (A) of a numerical credit score as defined in section 1681g(f)(2)(A)
      of this title used by such person in taking any adverse action based in whole or in part on any
      information in a consumer report; and (B) of the information set forth in subparagraphs (B) through
      (E) of section 1681g(f)(1) of this title ; (3) provide to the consumer orally, in writing, or electronically—
      (A) the name, address, and telephone number of the consumer reporting agency (including a toll-free
      telephone number established by the agency if the agency compiles and maintains files on consumers
      on a nationwide basis) that furnished the report to the person; and (B) a statement that the consumer
      reporting agency did not make the decision to take the adverse action and is unable to provide the
      consumer the specific reasons why the adverse action was taken; and (4) provide to the consumer
      an oral, written, or electronic notice of the consumer ’s right— (A) to obtain, under section 1681j
      of this title , a free copy of a consumer report on the consumer from the consumer reporting agency
      referred to in paragraph (3), which notice shall include an indication of the 60-day period under
      that section for obtaining such a copy; and (B) to dispute, under section 1681i of this title ,
      with a consumer reporting agency the accuracy or completeness of any information in a consumer report
      furnished by the agency.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-b
  canonical_id: fcra-15usc-1681m-b
  section: 15 U.S.C. §1681m(b)
  description: '(b): (b) Adverse action based on information obtained from third parties other than consumer
    reporting agencies (1) In general Whenever credit for personal, family, or household purposes involving
    a consumer is denied or the charge for such credit is increased either wholly or partly because of
    informati…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (b) Adverse action based on information obtained from third parties other than consumer
      reporting agencies (1) In general Whenever credit for personal, family, or household purposes involving
      a consumer is denied or the charge for such credit is increased either wholly or partly because
      of information obtained from a person other than a consumer reporting agency bearing upon the consumer’
      s credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics,
      or mode of living, the user of such information shall, within a reasonable period of time, upon
      the consumer’ s written request for the reasons for such adverse action received within sixty days
      after learning of such adverse action, disclose the nature of the information to the consumer. The
      user of such information shall clearly and accurately disclose to the consumer his right to make
      such written request at the time such adverse action is communicated to the consumer. (2) Duties
      of person taking certain actions based on information provided by affiliate (A) Duties, generally
      If a person takes an action described in subparagraph (B) with respect to a consumer , based in
      whole or in part on information described in subparagraph (C), the person shall—
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-i
  canonical_id: fcra-15usc-1681m-i
  section: 15 U.S.C. §1681m(i)
  description: '(i): (i) notify the consumer of the action, including a statement that the consumer may
    obtain the information in accordance with clause (ii); and (ii) upon a written request from the consumer
    received within 60 days after transmittal of the notice required by clause (i), disclose to the consumer
    the nat…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (i) notify the consumer of the action, including a statement that the consumer may
      obtain the information in accordance with clause (ii); and (ii) upon a written request from the
      consumer received within 60 days after transmittal of the notice required by clause (i), disclose
      to the consumer the nature of the information upon which the action is based by not later than 30
      days after receipt of the request. (B) Action described An action referred to in subparagraph (A)
      is an adverse action described in section 1681a(k)(1)(A) of this title , taken in connection with
      a transaction initiated by the consumer, or any adverse action described in clause (i) or (ii) of
      section 1681a(k)(1)(B) of this title . (C) Information described Information referred to in subparagraph
      (A)—
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-i
  canonical_id: fcra-15usc-1681m-i
  section: 15 U.S.C. §1681m(i)
  description: '(i): (i) except as provided in clause (ii), is information that— (I) is furnished to the
    person taking the action by a person related by common ownership or affiliated by common corporate
    control to the person taking the action; and (II) bears on the credit worthiness, credit standing,
    credit capacity, c…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (i) except as provided in clause (ii), is information that— (I) is furnished to the
      person taking the action by a person related by common ownership or affiliated by common corporate
      control to the person taking the action; and (II) bears on the credit worthiness, credit standing,
      credit capacity, character, general reputation, personal characteristics, or mode of living of the
      consumer ; and (ii) does not include— (I) information solely as to transactions or experiences between
      the consumer and the person furnishing the information; or (II) information in a consumer report
      .
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-c
  canonical_id: fcra-15usc-1681m-c
  section: 15 U.S.C. §1681m(c)
  description: '(c): (c) Reasonable procedures to assure compliance No person shall be held liable for
    any violation of this section if he shows by a preponderance of the evidence that at the time of the
    alleged violation he maintained reasonable procedures to assure compliance with the provisions of
    this section.'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (c) Reasonable procedures to assure compliance No person shall be held liable for
      any violation of this section if he shows by a preponderance of the evidence that at the time of
      the alleged violation he maintained reasonable procedures to assure compliance with the provisions
      of this section.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-d
  canonical_id: fcra-15usc-1681m-d
  section: 15 U.S.C. §1681m(d)
  description: '(d): (d) Duties of users making written credit or insurance solicitations on basis of
    information contained in consumer files (1) In general Any person who uses a consumer report on any
    consumer in connection with any credit or insurance transaction that is not initiated by the consumer,
    that is provided…'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (d) Duties of users making written credit or insurance solicitations on basis of
      information contained in consumer files (1) In general Any person who uses a consumer report on
      any consumer in connection with any credit or insurance transaction that is not initiated by the
      consumer, that is provided to that person under section 1681b(c)(1)(B) of this title , shall provide
      with each written solicitation made to the consumer regarding the transaction a clear and conspicuous
      statement that— (A) information contained in the consumer ’s consumer report was used in connection
      with the transaction; (B) the consumer received the offer of credit or insurance because the consumer
      satisfied the criteria for credit worthiness or insurability under which the consumer was selected
      for the offer; (C) if applicable, the credit or insurance may not be extended if, after the consumer
      responds to the offer, the consumer does not meet the criteria used to select the consumer for the
      offer or any applicable criteria bearing on credit worthiness or insurability or does not furnish
      any required collateral; (D) the consumer has a right to prohibit information contained in the consumer
      ’s file with any consumer reporting agency from being used in connection with any credit or insurance
      transaction that is not initiated by the consumer; and (E) the consumer may exercise the right referred
      to in subparagraph (D) by notifying a notification system established under section 1681b(e) of
      this title . (2) Disclosure of address and telephone number; format A statement under paragraph
      (1) shall— (A) include the address and toll-free telephone number of the appropriate notification
      system established under section 1681b(e) of this title ; and (B) be presented in such format and
      in such type size and manner as to be simple and easy to understand, as established by the Bureau
      , by rule, in consultation with the Federal Trade Commission , the Federal banking agencies, and
      the National Credit Union Administration . (3) Maintaining criteria on file A person who makes an
      offer of credit or insurance to a consumer under a credit or insurance transaction described in
      paragraph (1) shall maintain on file the criteria used to select the consumer to receive the offer,
      all criteria bearing on credit worthiness or insurability, as applicable, that are the basis for
      determining whether or not to extend credit or insurance pursuant to the offer, and any requirement
      for the furnishing of collateral as a condition of the extension of credit or insurance, until the
      expiration of the 3-year period beginning on the date on which the offer is made to the consumer
      . (4) Authority of Federal agencies regarding unfair or deceptive acts or practices not affected
      This section is not intended to affect the authority of any Federal or State agency to enforce a
      prohibition against unfair or deceptive acts or practices, including the making of false or misleading
      statements in connection with a credit or insurance transaction that is not initiated by the consumer
      .
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-e
  canonical_id: fcra-15usc-1681m-e
  section: 15 U.S.C. §1681m(e)
  description: '(e): (e) Red flag guidelines and regulations required (1) Guidelines The Federal banking
    agencies, the National Credit Union Administration , the Federal Trade Commission , the Commodity
    Futures Trading Commission , and the Securities and Exchange Commission shall jointly, with respect
    to the entities th…'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (e) Red flag guidelines and regulations required (1) Guidelines The Federal banking
      agencies, the National Credit Union Administration , the Federal Trade Commission , the Commodity
      Futures Trading Commission , and the Securities and Exchange Commission shall jointly, with respect
      to the entities that are subject to their respective enforcement authority under section 1681s of
      this title — (A) establish and maintain guidelines for use by each financial institution and each
      creditor regarding identity theft with respect to account holders at, or customers of, such entities,
      and update such guidelines as often as necessary; (B) prescribe regulations requiring each financial
      institution and each creditor to establish reasonable policies and procedures for implementing the
      guidelines established pursuant to subparagraph (A), to identify possible risks to account holders
      or customers or to the safety and soundness of the institution or customers; and (C) prescribe regulations
      applicable to card issuers to ensure that, if a card issuer receives notification of a change of
      address for an existing account, and within a short period of time (during at least the first 30
      days after such notification is received) receives a request for an additional or replacement card
      for the same account, the card issuer may not issue the additional or replacement card, unless the
      card issuer , in accordance with reasonable policies and procedures—
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-i
  canonical_id: fcra-15usc-1681m-i
  section: 15 U.S.C. §1681m(i)
  description: '(i): (i) notifies the cardholder of the request at the former address of the cardholder
    and provides to the cardholder a means of promptly reporting incorrect address changes; (ii) notifies
    the cardholder of the request by such other means of communication as the cardholder and the card
    issuer previously…'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (i) notifies the cardholder of the request at the former address of the cardholder
      and provides to the cardholder a means of promptly reporting incorrect address changes; (ii) notifies
      the cardholder of the request by such other means of communication as the cardholder and the card
      issuer previously agreed to; or (iii) uses other means of assessing the validity of the change of
      address, in accordance with reasonable policies and procedures established by the card issuer in
      accordance with the regulations prescribed under subparagraph (B). (2) Criteria (A) In general In
      developing the guidelines required by paragraph (1)(A), the agencies described in paragraph (1)
      shall identify patterns, practices, and specific forms of activity that indicate the possible existence
      of identity theft . (B) Inactive accounts In developing the guidelines required by paragraph (1)(A),
      the agencies described in paragraph (1) shall consider including reasonable guidelines providing
      that when a transaction occurs with respect to a credit or deposit account that has been inactive
      for more than 2 years, the creditor or financial institution shall follow reasonable policies and
      procedures that provide for notice to be given to a consumer in a manner reasonably designed to
      reduce the likelihood of identity theft with respect to such account. (3) Consistency with verification
      requirements Guidelines established pursuant to paragraph (1) shall not be inconsistent with the
      policies and procedures required under section 5318(l) of title 31. (4) Definitions As used in this
      subsection, the term “ creditor ”— (A) means a creditor , as defined in section 1691a of this title
      , that regularly and in the ordinary course of business—
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-i
  canonical_id: fcra-15usc-1681m-i
  section: 15 U.S.C. §1681m(i)
  description: '(i): (i) obtains or uses consumer reports , directly or indirectly, in connection with
    a credit transaction; (ii) furnishes information to consumer reporting agencies, as described in section
    1681s–2 of this title , in connection with a credit transaction; or (iii) advances funds to or on
    behalf of a per…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (i) obtains or uses consumer reports , directly or indirectly, in connection with
      a credit transaction; (ii) furnishes information to consumer reporting agencies, as described in
      section 1681s–2 of this title , in connection with a credit transaction; or (iii) advances funds
      to or on behalf of a person , based on an obligation of the person to repay the funds or repayable
      from specific property pledged by or on behalf of the person ; (B) does not include a creditor described
      in subparagraph (A)(iii) that advances funds on behalf of a person for expenses incidental to a
      service provided by the creditor to that person; and (C) includes any other type of creditor , as
      defined in that section 1691a of this title , as the agency described in paragraph (1) having authority
      over that creditor may determine appropriate by rule promulgated by that agency, based on a determination
      that such creditor offers or maintains accounts that are subject to a reasonably foreseeable risk
      of identity theft.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-f
  canonical_id: fcra-15usc-1681m-f
  section: 15 U.S.C. §1681m(f)
  description: '(f): (f) Prohibition on sale or transfer of debt caused by identity theft (1) In general
    No person shall sell, transfer for consideration, or place for collection a debt that such person
    has been notified under section 1681c–2 of this title has resulted from identity theft. (2) Applicability
    The prohibit…'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (f) Prohibition on sale or transfer of debt caused by identity theft (1) In general
      No person shall sell, transfer for consideration, or place for collection a debt that such person
      has been notified under section 1681c–2 of this title has resulted from identity theft. (2) Applicability
      The prohibitions of this subsection shall apply to all persons collecting a debt described in paragraph
      (1) after the date of a notification under paragraph (1). (3) Rule of construction Nothing in this
      subsection shall be construed to prohibit— (A) the repurchase of a debt in any case in which the
      assignee of the debt requires such repurchase because the debt has resulted from identity theft
      ; (B) the securitization of a debt or the pledging of a portfolio of debt as collateral in connection
      with a borrowing; or (C) the transfer of debt as a result of a merger, acquisition, purchase and
      assumption transaction, or transfer of substantially all of the assets of an entity.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-g
  canonical_id: fcra-15usc-1681m-g
  section: 15 U.S.C. §1681m(g)
  description: '(g): (g) Debt collector communications concerning identity theft If a person acting as
    a debt collector (as that term is defined in subchapter V) on behalf of a third party that is a creditor
    or other user of a consumer report is notified that any information relating to a debt that the person
    is attempt…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (g) Debt collector communications concerning identity theft If a person acting as
      a debt collector (as that term is defined in subchapter V) on behalf of a third party that is a
      creditor or other user of a consumer report is notified that any information relating to a debt
      that the person is attempting to collect may be fraudulent or may be the result of identity theft,
      that person shall— (1) notify the third party that the information may be fraudulent or may be the
      result of identity theft ; and (2) upon request of the consumer to whom the debt purportedly relates,
      provide to the consumer all information to which the consumer would otherwise be entitled if the
      consumer were not a victim of identity theft , but wished to dispute the debt under provisions of
      law applicable to that person.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-h
  canonical_id: fcra-15usc-1681m-h
  section: 15 U.S.C. §1681m(h)
  description: '(h): (h) Duties of users in certain credit transactions (1) In general Subject to rules
    prescribed as provided in paragraph (6), if any person uses a consumer report in connection with an
    application for, or a grant, extension, or other provision of, credit on material terms that are materially
    less favo…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (h) Duties of users in certain credit transactions (1) In general Subject to rules
      prescribed as provided in paragraph (6), if any person uses a consumer report in connection with
      an application for, or a grant, extension, or other provision of, credit on material terms that
      are materially less favorable than the most favorable terms available to a substantial proportion
      of consumers from or through that person, based in whole or in part on a consumer report , the person
      shall provide an oral, written, or electronic notice to the consumer in the form and manner required
      by regulations prescribed in accordance with this subsection. (2) Timing The notice required under
      paragraph (1) may be provided at the time of an application for, or a grant, extension, or other
      provision of, credit or the time of communication of an approval of an application for, or grant,
      extension, or other provision of, credit , except as provided in the regulations prescribed under
      paragraph (6). (3) Exceptions No notice shall be required from a person under this subsection if—
      (A) the consumer applied for specific material terms and was granted those terms, unless those terms
      were initially specified by the person after the transaction was initiated by the consumer and after
      the person obtained a consumer report ; or (B) the person has provided or will provide a notice
      to the consumer under subsection (a) in connection with the transaction. (4) Other notice not sufficient
      A person that is required to provide a notice under subsection (a) cannot meet that requirement
      by providing a notice under this subsection. (5) Content and delivery of notice A notice under this
      subsection shall, at a minimum— (A) include a statement informing the consumer that the terms offered
      to the consumer are set based on information from a consumer report ; (B) identify the consumer
      reporting agency furnishing the report; (C) include a statement informing the consumer that the
      consumer may obtain a copy of a consumer report from that consumer reporting agency without charge;
      (D) include the contact information specified by that consumer reporting agency for obtaining such
      consumer reports (including a toll-free telephone number established by the agency in the case of
      a consumer reporting agency described in section 1681a(p) of this title ); and (E) include a statement
      informing the consumer of—
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-i
  canonical_id: fcra-15usc-1681m-i
  section: 15 U.S.C. §1681m(i)
  description: '(i): (i) a numerical credit score as defined in section 1681g(f)(2)(A) of this title ,
    used by such person in making the credit decision described in paragraph (1) based in whole or in
    part on any information in a consumer report; and (ii) the information set forth in subparagraphs
    (B) through (E) of sec…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (i) a numerical credit score as defined in section 1681g(f)(2)(A) of this title ,
      used by such person in making the credit decision described in paragraph (1) based in whole or in
      part on any information in a consumer report; and (ii) the information set forth in subparagraphs
      (B) through (E) of section 1681g(f)(1) of this title . (6) Rulemaking (A) Rules required The Bureau
      shall prescribe rules to carry out this subsection. (B) Content Rules required by subparagraph (A)
      shall address, but are not limited to—
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-i
  canonical_id: fcra-15usc-1681m-i
  section: 15 U.S.C. §1681m(i)
  description: '(i): (i) the form, content, time, and manner of delivery of any notice under this subsection;
    (ii) clarification of the meaning of terms used in this subsection, including what credit terms are
    material, and when credit terms are materially less favorable; (iii) exceptions to the notice requirement
    under…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (i) the form, content, time, and manner of delivery of any notice under this subsection;
      (ii) clarification of the meaning of terms used in this subsection, including what credit terms
      are material, and when credit terms are materially less favorable; (iii) exceptions to the notice
      requirement under this subsection for classes of persons or transactions regarding which the agencies
      determine that notice would not significantly benefit consumers ; (iv) a model notice that may be
      used to comply with this subsection; and
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: fcra-15usc-1681m-v
  canonical_id: fcra-15usc-1681m-v
  section: 15 U.S.C. §1681m(v)
  description: '(v): (v) the timing of the notice required under paragraph (1), including the circumstances
    under which the notice must be provided after the terms offered to the consumer were set based on
    information from a consumer report . (7) Compliance A person shall not be liable for failure to perform
    the duties …'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1681m(a)
    source_class: fcra-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1681m
    snapshot_id: ac4ae6b4e648d5fe
    fetched_at: '2026-05-22T18:51:48Z'
    content_hash: sha256:af1f63b54607c5559f2c6921c21b2e62d39775e62bbe5837b3b86604d5611e5f
    paragraph_quote: (v) the timing of the notice required under paragraph (1), including the circumstances
      under which the notice must be provided after the terms offered to the consumer were set based on
      information from a consumer report . (7) Compliance A person shall not be liable for failure to
      perform the duties required by this section if, at the time of the failure, the person maintained
      reasonable policies and procedures to comply with this section. (8) Enforcement (A) No civil actions
      Sections 1681n and 1681o of this title shall not apply to any failure by any person to comply with
      this section. (B) Administrative enforcement This section shall be enforced exclusively under section
      1681s of this title by the Federal agencies and officials identified in that section. ( Pub. L.
      90–321, title VI, § 615 , as added Pub. L. 91–508, title VI, § 601 , Oct. 26, 1970 , 84 Stat. 1133
      ; amended Pub. L. 104–208, div. A, title II, § 2411 , Sept. 30, 1996 , 110 Stat. 3009–443 ; Pub.
      L. 108–159, title I , §§ 114, 154(b), 155, title II, § 213(a), title III, § 311(a), title VIII,
      § 811(h), Dec. 4, 2003 , 117 Stat. 1960 , 1967, 1978, 1988, 2012; Pub. L. 111–203, title X , §§
      1088(a)(2)(C), (7)–(9), 1100F, July 21, 2010 , 124 Stat. 2087 , 2088, 2112; Pub. L. 111–319, § 2(a)
      , Dec. 18, 2010 , 124 Stat. 3457 .)
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1681m from Cornell LII snapshot ac4ae6b4e648d5fe;
      body isolated between nav and notes; substring-verified.
  judgment: false
