FCRA/Marketing/Reg P Policy Update

FCRA/Marketing/Reg P Policy Template Update - 11/06/07

Bankpolicies.com is proud to announce the immediate availability of the following revised products:

Fair Credit Reporting Act Policy Template

Marketing Plan and Program Policy Template

We are also proud to announce the immediate availability of a new stand alone version of our Identity Theft Program Policy Template ($175.00).

The revision to these products is in response to the following recently released regulatory guidance:

"Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003" dated October 16, 2007 issues final rules and guidelines implementing section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACTA) and final rules implementing section 315 of the FACTA.

Section 114 requires each financial institution or creditor to develop and implement a written Identity Theft Prevention Program (Program) to detect, prevent, and mitigate identity theft in connection with the opening of certain accounts or certain existing accounts. In addition, this section also requires credit and debit card issuers to assess the validity of notifications of changes of address under certain circumstances.

Section 315 provides guidance regarding reasonable policies and procedures that a user of consumer reports must employ when a consumer reporting agency sends the user a notice of address discrepancy.

Mandatory compliance for these rules is November 1, 2008.

http://www.fdic.gov/news/board/07Oct16nine.pdf

"Fair Credit Reporting Affiliate Marketing Regulations" dated October 16, 2007 announces final rules to implement the affiliate marketing provisions in section 214 of the Fair and Accurate Credit Transactions Act of 2003, which amends the Fair Credit Reporting Act. The final rules generally prohibit a person from using information received from an affiliate to make a solicitation for marketing purposes to a consumer, unless the consumer is given notice and a reasonable opportunity and simple method to opt out of the making of such solicitations.

The mandatory compliance date for this rule is October 1, 2008.

http://www.fdic.gov/news/board/07Oct16nine.pdf

What's New and Revised

Please visit the following pages of our website to review detailed subject matter regarding new and revised topics for these products:

Fair Credit Reporting Act Policy Template Update Details

Marketing Plan and Program Policy Template Update Details

Regulation P Policy Template Update Details

Ordering Information

These revised products are available to purchase from Bankpolicies.com for:

Fair Credit Reporting Act Policy Template

$300.00 - List Price

- or -

$100.00* - Update Price

*Applies only to clients who have purchased the Fair Credit Reporting Act Policy Template within the last three years in addition to the following prior updates (if applicable):

Fair Credit Reporting Act Policy Template Update - 12/01/05 - $25.00

Fair Credit Reporting Act Policy Template Update - 09/06/05 - $25.00

Fair Credit Reporting Act Policy Template Update - 07/19/05 - $50.00

Marketing Plan and Program Policy Template

$175.00 - List Price

- or -

$25.00* - Update Price

*Applies only to clients who have purchased the Marketing Plan and Program Policy Template within the last three years in addition to the following prior updates (if applicable):

Marketing Plan and Program Policy Template Update - 09/18/07 - $50.00

Marketing Plan and Program Policy Template Update - 12/05/06 - $25.00

Regulation P Policy Template

$375.00 - List Price

- or -

$50.00* - Update Price

*Applies only to clients who have purchased the Regulation P Policy Template within the last three years in addition to the following prior updates (if applicable):

Regulation P Policy Template Update - 01/30/07 - $25.00

Regulation P Policy Template Update - 09/06/05 - $25.00

If you have ordered any of these products after 10/06/07 you are eligible to receive the updated product(s) at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.