31 Jul 2025
📄Proposed Extension of Regulation V’s Recordkeeping Requirements
Proposed Agency Information Collection Activities; Comment Request
Summary
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Recordkeeping and Disclosure Requirements Associated with the Consumer Financial Protection Bureau's (CFPB) and the Board's Regulations V (FR V; OMB No. 7100-0308).
Agencies
- Federal Reserve System
Business Impact
$$ - Med
The proposed extension of Recordkeeping and Disclosure Requirements under Regulation V entails ongoing compliance obligations for businesses, particularly financial institutions that must adhere to the Fair Credit Reporting Act. This affects their operations and requires resource allocation for compliance measures.