In the June 24, 2022, issue of the Federal Register (87 FR 37700) the Consumer Financial Protection Bureau (Bureau) published a final rule amending Regulation V (12 CFR part 1022), which implements the Fair Credit Reporting Act (FCRA), by adding new §1022.142, Prohibition on inclusion of adverse information in consumer reporting in cases of human trafficking, to Subpart O—Miscellaneous Duties of Consumer Reporting Agencies, that assists a consumer who is a victim of trafficking (defined in 1022.142(b)(7) as “a person who is a victim of a severe form of trafficking in persons or sex trafficking”). This final rule establishes a method for a victim of trafficking to submit documentation to consumer reporting agencies, including information identifying any adverse item of information about the consumer that resulted from human trafficking, and prohibits the consumer reporting agencies from furnishing a consumer report containing the adverse item(s) of information.

Full Memorandum