admin Posted May 7, 2002 Report Posted May 7, 2002 I found this interesting, reading the FCRA over today...SECTION 6121681j. Charges for certain disclosures(a)[TAB]Reasonable charges allowed for certain disclosures.(1) In general. Except as provided in subsections (, ©, and (d), a consumer reporting agency may impose a reasonable charge on a consumer(A) for making a disclosure to the consumer pursuant to section 609, which charge(i) shall not exceed $8; and(ii) shall be indicated to the consumer before making the disclosure; and So does that mean that the credit bureaus are in violation for charging more than $8????? Don't all of them charge about $9?
calawyer Posted May 8, 2002 Report Posted May 8, 2002 This was a tough one Kristy. I thought you were really onto something here. I found out though that under the 1996 amendments to the FCRA, the Federal Trade Commission is required to increase the $ 8.00 amount referred to in paragraph (1)(A)(i) of Section 612(a) on January 1 of each year, based on changes in the Consumer Price Index ("CPI"),rounded to the nearest fifty cents. They have done so at least twice. See 66 Federal Register 63,545.
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