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Financial Services Law Insights and Observations

CFPB sets 2023 FCRA asset threshold

Federal Issues Agency Rule-Making & Guidance CFPB FCRA Consumer Finance Consumer Reporting Agency

Federal Issues

On November 22, the CFPB announced the annual adjustment to the maximum amount that consumer reporting agencies are permitted to charge consumers for making a file disclosure to a consumer under the FCRA. According to the rule, the ceiling on allowable charges under Section 612(f) of the FCRA will increase to $14.50, which is a $1.00 increase from the ceiling on allowable charges for 2022. The rule is effective January 1, 2023.