OCC / FCRA – 20. If a bank regularly obtains information for its customers about the sufficiency of funds to cover checks on drawee banks and gives the information to such customers, does it become a consumer reporting agency?

Compliance > FCRA
Q:  If a bank regularly obtains information for its customers about the sufficiency of funds to cover checks on drawee banks and gives the information to such customers, does it become a consumer reporting agency?
 
A:  No.
 
 
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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