OCC 2004-23
OCC Bulletin

Subject:      Fair Credit Reporting Medical Information Regulations
Description:  Notice of Proposed Rulemaking

Date:         May 20, 2004
 
TO:  Chief Executive Officers of All National Banks, Federal Branches and 
     Agencies, Department and Division Heads, and All Examining Personnel

The attached notice of proposed rulemaking (NPRM), which was published in 
the Federal Register on April 28, 2004, would add a new part 41 to the 
OCC’s regulations for Fair Credit and would implement section 411 of the 
Fair and Accurate Credit Transactions Act of 2003 (FACT Act).  Section 
411 of the FACT Act restricts the circumstances in which consumer 
reporting agencies may furnish consumer reports containing medical 
information about consumers.  The FACT Act prohibits creditors from 
obtaining or using medical information pertaining to a consumer in 
connection with any determination of the consumer’s eligibility or 
continued eligibility for credit, and restricts the sharing of medical 
information and related lists or descriptions among affiliates.

The proposed rule would create exceptions to the FACT Act’s general 
prohibition against obtaining or using medical information in connection 
with credit eligibility determinations that the OCC believes are necessary 
and appropriate to protect legitimate operational, transactional, risk, 
consumer, and other needs, and are consistent with Congress’s intent to 
restrict the use of medical information for inappropriate purposes.  The 
proposed rule would also create exceptions to the restrictions on sharing 
medical-related information among affiliates that the OCC believes are 
necessary and appropriate.  Comments on the NPRM must be received by 
May 28, 2004.

For questions concerning this proposed rule, contact Amy Friend, assistant 
chief counsel at (202) 874-5200; Michael Bylsma, director, Community and 
Consumer Law at (202) 874-5750; Patrick T. Tierney, attorney, Legislative 
and Regulatory Activities Division at (202) 874-5090; or Carol Turner, 
compliance specialist, Compliance Department at (202) 874-4858. 


							
Julie L. Williams
First Senior Deputy Comptroller and Chief Counsel



Attachment—69 FR 23380
	   [http://www.occ.treas.gov/fr/fedregister/69fr23380.pdf]