12 Banks and Banking 1 2005-01-01 2005-01-01 false FAIR CREDIT REPORTING 41 PART 41 Banks and Banking COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY Pt. 41 PART 41—FAIR CREDIT REPORTING Subpart A—General Provisions Sec. 41.1 Purpose. 41.2 [Reserved] 41.3 Definitions. Subparts B-H—[Reserved] Subpart I—Duties of Users of Consumer Reports Regarding Identity Theft 41.80-82 [Reserved] 41.83 Disposal of consumer information Authority:

12 U.S.C. 1 et seq., 24 (Seventh), 93a, 481, 484, and 1818; 15 U.S.C. 1681s, 1681w, 6801 and 6805.

 Source:

69 FR 77616, Dec. 28, 2004, unless otherwise noted.

Effective Date Note:

At 69 FR 77616, Dec. 28, 2004, part 41 was added, effective July 1, 2005.

 Subpart A—General Provisions
§ 41.1 Purpose.

(a) Purpose. The purpose of this part is to establish standards for national banks regarding consumer report information. In addition, the purpose of this part is to specify the extent to which national banks may obtain, use, or share certain information. This part also contains a number of measures national banks must take to combat consumer fraud and related crimes, including identity theft.

(b) [Reserved]

§ 41.2 [Reserved]
§ 41.3 Definitions.

As used in this part, unless the context requires otherwise:

(a)-(d) [Reserved]

(e) Consumer means an individual.

(f)-(n) [Reserved]

 Subparts B-H—[Reserved] Subpart I—Duties of Users of Consumer Reports Regarding Identity Theft
§ 41.80-82 [Reserved]
§ 41.83 Disposal of consumer information.

(a) Definitions as used in this section. (1) Bank means national banks, Federal branches and agencies of foreign banks, and their respective operating subsidiaries.

(b) In general. Each bank must properly dispose of any consumer information that it maintains or otherwise possesses in accordance with the Interagency Guidelines Establishing Information Security Standards, as set forth in appendix B to 12 CFR part 30, to the extent that the bank is covered by the scope of the Guidelines.

(c) Rule of construction. Nothing in this section shall be construed to:

(1) Require a bank to maintain or destroy any record pertaining to a consumer that is not imposed under any other law; or

(2) Alter or affect any requirement imposed under any other provision of law to maintain or destroy such a record.