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Rules and Regulations
Federal Register Vol. 86, No. 226
Monday, November 29, 2021

This section of the FEDERAL REGISTER
contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.

BUREAU OF CONSUMER FINANCIAL
PROTECTION
12 CFR Part 1022
Fair Credit Reporting Act Disclosures Bureau of Consumer Financial Protection.
ACTION: Final rule; official interpretation.
AGENCY:

The Bureau of Consumer Financial Protection Bureau is issuing this final rule amending an appendix for Regulation V, which implements the Fair Credit Reporting Act FCRA. The Bureau is required to calculate annually the dollar amount of the maximum allowable charge for disclosures by a consumer reporting agency to a consumer pursuant to the FCRA; this final rule establishes the maximum allowable charge for the 2022 calendar year.
DATES: This final rule is effective January 1, 2022.
FOR FURTHER INFORMATION CONTACT:
Lanique Eubanks, Senior Counsel;
Office of Regulations, at 202 4357700.
If you require this document in an alternative electronic format, please contact CFPB_Accessibility@cfpb.gov.
SUPPLEMENTARY INFORMATION: The Bureau is amending appendix O for Regulation V, which implements the FCRA, to establish the maximum allowable charge for disclosures by a consumer reporting agency to a consumer for 2022. The maximum allowable charge will be $13.50 for 2022.

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SUMMARY:

I. Background Under section 609 of the FCRA, a consumer reporting agency must, upon a consumers request, disclose to the consumer information in the consumers file.1 Section 612a of the FCRA gives consumers the right to a free file disclosure upon request once every 12
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U.S.C. 1681g.

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months from the nationwide consumer reporting agencies and nationwide specialty consumer reporting agencies.2
Section 612 of the FCRA also gives consumers the right to a free file disclosure under certain other, specified circumstances.3 Where the consumer is not entitled to a free file disclosure, section 612f1A of the FCRA
provides that a consumer reporting agency may impose a reasonable charge on a consumer for making a file disclosure. Section 612f1A of the FCRA provides that the charge for such a disclosure shall not exceed $8.00 and shall be indicated to the consumer before making the file disclosure.4
Section 612f2 of the FCRA also states that the $8.00 maximum amount shall increase on January 1 of each year, based proportionally on changes in the Consumer Price Index, with fractional changes rounded to the nearest fifty cents.5 Such increases are based on the Consumer Price Index for All Urban Consumers CPIU, which is the most general Consumer Price Index and covers all urban consumers and all items.
II. Adjustment For 2022, the ceiling on allowable charges under section 612f of the FCRA will be $13.50, an increase of fifty cents from 2021. The Bureau is using the $8.00 amount set forth in section 612f1Ai of the FCRA as the baseline for its calculation of the increase in the ceiling on reasonable charges for certain disclosures made under section 609 of the FCRA. Since the effective date of section 612a was September 30, 1997, the Bureau calculated the proportional increase in the CPIU from September 1997 to September 2021. The Bureau then determined what modification, if any, from the original base of $8.00 should be made effective for 2022, given the requirement that fractional changes be rounded to the nearest fifty cents.
Between September 1997 and September 2021, the CPIU increased by 2 15

U.S.C. 1681ja.
U.S.C. 1681jbd. The maximum allowable charge announced by the Bureau does not apply to requests made under section 612ad of the FCRA. The charge does apply when a consumer who orders a file disclosure has already received a free annual file disclosure and does not otherwise qualify for an additional free file disclosure.
4 15 U.S.C. 1681jf1A.
5 15 U.S.C. 1681jf2.
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70.168 percent from an index value of 161.2 in September 1997 to a value of 274.31 in September 2021. An increase of 70.168 percent in the $8.00 base figure would lead to a figure of $13.61.
However, because the statute directs that the resulting figure be rounded to the nearest $0.50, the maximum allowable charge is $13.50. The Bureau therefore determines that the maximum allowable charge for the year 2022 will increase to $13.50.
III. Procedural Requirements A. Administrative Procedure Act Under the Administrative Procedure Act APA, notice and opportunity for public comment are not required if the Bureau finds that notice and public comment are impracticable, unnecessary, or contrary to the public interest.6 Pursuant to this final rule, in Regulation V, appendix O is amended to update the maximum allowable charge for 2022 under section 612f. The amendments in this final rule are technical and non-discretionary, as they merely apply the method previously established in Regulation V for determining adjustments to the thresholds. For these reasons, the Bureau has determined that publishing a notice of proposed rulemaking and providing opportunity for public comment are unnecessary. The amendments therefore are adopted in final form.
Section 553d of the APA generally requires publication of a final rule not less than 30 days before its effective date, except 1 a substantive rule which grants or recognizes an exemption or relieves a restriction; 2 interpretive rules and statements of policy; or 3 as otherwise provided by the agency for good cause found and published with the rule. 5 U.S.C. 553d. At a minimum, the Bureau believes the amendments made by this rule fall under the third exception to section 553d. The Bureau finds that there is good cause to make this rule effective on January 1, 2022.
The amendments made by this rule are technical and non-discretionary, and apply the method previously established in the Bureaus regulations for automatic adjustments to the threshold.
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U.S.C. 553bB.

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