Federal regulators issue proposal on medical information

From: Bank News | Date: June 1, 2004| Author: | Copyright information

Federal financial regulators have issued a proposed rule under the Fair Credit Reporting Act that would incorporate the statutory prohibition on obtaining or using medical information in connection with credit eligibility determinations and, as required by the statute, create certain exceptions to be applied in limited circumstances.

Section 411 of the Fair and Accurate Credit Transactions Act of 2003 amends the FCRA to provide that a creditor may not obtain or use medical information in connection with any determination of a consumer's eligibility, or continued eligibility, for credit, ...

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