source:
  type: regulation
  id: reg-v-1022.20
  authority: 12 CFR §1022.20 — Coverage and definitions (Regulation V)
  description: 12 CFR §1022.20 — Coverage and definitions.
  coverage_tier: operative
obligations:
- id: reg-v-1022.20-full
  canonical_id: reg-v-1022.20-full
  section: 12 CFR §1022.20 — Coverage and definitions
  type: do
  tags:
  - regulator-direct
  - fcra
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: 12 CFR §1022.20 — Coverage and definitions (Regulation V)
    source_class: cfpb-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/1022.20
    snapshot_id: 3078946556795cef
    fetched_at: '2026-06-17T19:30:42Z'
    content_hash: sha256:87ffc699f210ce95695335845f60815e5e841b332bb943ebcf5dc7fe72f664ea
    paragraph_quote: '§ 1022.20 Coverage and definitions. (a) Coverage. Subpart C
      of this part applies to any person that uses information from its affiliates
      for the purpose of marketing solicitations, or provides information to its affiliates
      for that purpose, other than a person excluded from coverage of this part by
      section 1029 of the Consumer Financial Protection Act of 2010 , title X of the
      Dodd-Frank Wall Street Reform and Consumer Protection Act , Public Law 111-203
      , 124 Stat. 137 . (b) Definitions. For purposes of this subpart: (1) Clear and
      conspicuous. The term “clear and conspicuous” means reasonably understandable
      and designed to call attention to the nature and significance of the information
      presented. (2) Concise —(i) In general. The term “concise” means a reasonably
      brief expression or statement. (ii) Combination with other required disclosures.
      A notice required by this subpart may be concise even if it is combined with
      other disclosures required or authorized by Federal or state law. (3) Eligibility
      information. The term “eligibility information” means any information the communication
      of which would be a consumer report if the exclusions from the definition of
      “consumer report” in section 603(d)(2)(A) of the Act did not apply. Eligibility
      information does not include aggregate or blind data that does not contain personal
      identifiers such as account numbers, names, or addresses. (4) Pre-existing business
      relationship —(i) In general. The term “pre-existing business relationship”
      means a relationship between a person , or a person ''s licensed agent, and
      a consumer based on: (A) A financial contract between the person and the consumer
      which is in force on the date on which the consumer is sent a solicitation covered
      by this subpart; (B) The purchase, rental, or lease by the consumer of the person
      ''s goods or services, or a financial transaction (including holding an active
      account or a policy in force or having another continuing relationship) between
      the consumer and the person , during the 18-month period immediately preceding
      the date on which the consumer is sent a solicitation covered by this subpart;
      or (C) An inquiry or application by the consumer regarding a product or service
      offered by that person during the three-month period immediately preceding the
      date on which the consumer is sent a solicitation covered by this subpart. (ii)
      Examples of pre-existing business relationships. (A) If a consumer has a time
      deposit account, such as a certificate of deposit, at a financial institution
      that is currently in force, the financial institution has a pre-existing business
      relationship with the consumer and can use eligibility information it receives
      from its affiliates to make solicitations to the consumer about its products
      or services. (B) If a consumer obtained a certificate of deposit from a financial
      institution, but did not renew the certificate at maturity, the financial institution
      has a pre-existing business relationship with the consumer and can use eligibility
      information it receives from its affiliates to make solicitations to the consumer
      about its products or services for 18 months after the date of maturity of the
      certificate of deposit. (C) If a consumer obtains a mortgage , the mortgage
      lender has a pre-existing business relationship with the consumer . If the mortgage
      lender sells the consumer ''s entire loan to an investor, the mortgage lender
      has a pre-existing business relationship with the consumer and can use eligibility
      information it receives from its affiliates to make solicitations to the consumer
      about its products or services for 18 months after the date it sells the loan,
      and the investor has a pre-existing business relationship with the consumer
      upon purchasing the loan. If, however, the mortgage lender sells a fractional
      interest in the consumer ''s loan to an investor but also retains an ownership
      interest in the loan, the mortgage lender continues to have a pre-existing business
      relationship with the consumer , but the investor does not have a pre-existing
      business relationship with the consumer . If the mortgage lender retains ownership
      of the loan, but sells ownership of the servicing rights to the consumer ''s
      loan, the mortgage lender continues to have a pre-existing business relationship
      with the consumer . The purchaser of the servicing rights also has a pre-existing
      business relationship with the consumer as of the date it purchases ownership
      of the servicing rights, but only if it collects payments from or otherwise
      deals directly with the consumer on a continuing basis. (D) If a consumer applies
      to a financial institution for a product or service that it offers, but does
      not obtain a product or service from or enter into a financial contract or transaction
      with the institution, the financial institution has a pre-existing business
      relationship with the consumer and can therefore use eligibility information
      it receives from an affiliate to make solicitations to the consumer about its
      products or services for three months after the date of the application. (E)
      If a consumer makes a telephone inquiry to a financial institution about its
      products or services and provides contact information to the institution, but
      does not obtain a product or service from or enter into a financial contract
      or transaction with the institution, the financial institution has a pre-existing
      business relationship with the consumer and can therefore use eligibility information
      it receives from an affiliate to make solicitations to the consumer about its
      products or services for three months after the date of the inquiry. (F) If
      a consumer makes an inquiry to a financial institution by email about its products
      or services, but does not obtain a product or service from or enter into a financial
      contract or transaction with the institution, the financial institution has
      a pre-existing business relationship with the consumer and can therefore use
      eligibility information it receives from an affiliate to make solicitations
      to the consumer about its products or services for three months after the date
      of the inquiry. (G) If a consumer has an existing relationship with a financial
      institution that is part of a group of affiliated companies, makes a telephone
      call to the centralized call center for the group of affiliated companies to
      inquire about products or services offered by the insurance affiliate , and
      provides contact information to the call center, the call constitutes an inquiry
      to the insurance affiliate that offers those products or services. The insurance
      affiliate has a pre-existing business relationship with the consumer and can
      therefore use eligibility information it receives from its affiliated financial
      institution to make solicitations to the consumer about its products or services
      for three months after the date of the inquiry. (iii) Examples where no pre-existing
      business relationship is created. (A) If a consumer makes a telephone call to
      a centralized call center for a group of affiliated companies to inquire about
      the consumer ''s existing account at a financial institution, the call does
      not constitute an inquiry to any affiliate other than the financial institution
      that holds the consumer ''s account and does not establish a pre-existing business
      relationship between the consumer and any affiliate of the account-holding financial
      institution. (B) If a consumer who has a deposit account with a financial institution
      makes a telephone call to an affiliate of the institution to ask about the affiliate
      ''s retail locations and hours, but does not make an inquiry about the affiliate
      ''s products or services, the call does not constitute an inquiry and does not
      establish a pre-existing business relationship between the consumer and the
      affiliate . Also, the affiliate ''s capture of the consumer ''s telephone number
      does not constitute an inquiry and does not establish a pre-existing business
      relationship between the consumer and the affiliate . (C) If a consumer makes
      a telephone call to a financial institution in response to an advertisement
      that offers a free promotional item to consumers who call a toll-free number,
      but the advertisement does not indicate that the financial institution''s products
      or services will be marketed to consumers who call in response, the call does
      not create a pre-existing business relationship between the consumer and the
      financial institution because the consumer has not made an inquiry about a product
      or service offered by the institution, but has merely responded to an offer
      for a free promotional item. (5) Solicitation —(i) In general. The term “solicitation”
      means the marketing of a product or service initiated by a person to a particular
      consumer that is: (A) Based on eligibility information communicated to that
      person by its affiliate as described in this subpart; and (B) Intended to encourage
      the consumer to purchase or obtain such product or service. (ii) Exclusion of
      marketing directed at the general public. A solicitation does not include marketing
      communications that are directed at the general public. For example, television,
      general circulation magazine, and billboard advertisements do not constitute
      solicitations, even if those communications are intended to encourage consumers
      to purchase products and services from the person initiating the communications.
      (iii) Examples of solicitations. A solicitation would include, for example,
      a telemarketing call, direct mail, email, or other form of marketing communication
      directed to a particular consumer that is based on eligibility information received
      from an affiliate . (6) You means a person described in paragraph (a) of this
      section. Consumer Financial Protection Act of 2010 Dodd-Frank Wall Street Reform
      and Consumer Protection Act'
  judgment: false
