OCC / FCRA – 12. Do these disclosure requirements apply to business or commercial transactions?

Compliance > FCRA
Q:  Do these disclosure requirements apply to business or commercial transactions?
 
A:  No. The user requirements of disclosure apply only in connection with employment or for credit or insurance for personal, family, or household purposes. For credit, they apply to the general type of consumer credit transactions covered by Regulation Z.
 
 
This Q&A was obtained from the Comptroller’s Handbook on Fair Credit Reporting that may be found here:  https://www.occ.gov/publications-and-resources/publications/comptrollers-handbook/files/fair-credit-reporting/index-fair-credit-reporting.html
 

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