The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F ed er a l R eserve Ba n k o f D allas DALLAS, TEXAS 75222 Circular No. 77-64 June 7, 1977 REGULATION B— EQUAL CREDIT OPPORTUNITY Notice R e g a rd i n g C r e d i t H isto ry for M a rrie d P e rs o n s TO ALL BANKS, OTHER CREDITORS, AND OTHERS CONCERNED IN THE ELEVENTH FEDERAL RESERVE DISTRICT: Quoted below is th e te x t of a statem e nt is s u e d May 31, 1977, by the Board of G o v e r n o r s of th e F e d e ra l R e s e r v e System: T h e Board of G o v e r n o r s of the Federal R e s e r v e Syste m noted today th a t a p ro v is io n of R egulation B—Equal C r e d i t O p p o r tu n it y — r e g a r d i n g th e c r e d i t h is to r ie s of m a r r i e d p e r s o n s becomes effective J u n e 1. In g e n e r a l , th e R egulation g iv e s m a r r i e d p e r s o n s the rig h t to ha ve c r e d i t information a b o u t them r e p o r te d in th e names of both th e wife a n d th e h u s b a n d if both u s e o r a r e r e s p o n s i b l e for th e a c c o u n t. T h i s is meant to a s s u r e th a t individ ual c r e d i t h is to r ie s will be a v a ila b le to all m a r r i e d p e r s o n s . P r e v i o u s l y , most c r e d i t a c c o u n ts h a v e b e e n k e p t only in th e name of th e h u s b a n d a n d th u s on ly th e h u s b a n d de v elo p ed a credit history. U n d e r th e R egulation most o p e n - e n d c r e d i t billing s tatem e n ts (such as c r e d i t c a r d b illin g s) mailed d u r i n g J u n e , J u l y , A u g u s t , a n d S eptem b e r will contain a notice called " C r e d i t H istory for M arrie d P e r s o n s . " M arrie d c o n s u m e r s who w is h to ha ve individu al c r e d i t h is to r ie s must s ig n a nd mail th e notice b a c k once to eac h c r e d i t o r who s e n d s s u c h a no tic e . Either s p o u s e 's s i g n a t u r e is suffic ie n t, a n d both a r e not r e q u i r e d . P r in te d on the r e v e r s e of th is c i r c u l a r is th e te x t of the notice entitled " C re d it H istory for M arried P e r s o n s , " w hich is to b e mailed or d e l iv e r e d b y c r e d i t o r s to t h e i r m a r r i e d c u s to m e r s b e fo re O c to b er 1, 1977. B an ks a n d o t h e r c r e d i t o r s a r e e x pected to r e p r o d u c e t h e ir own s u p p lie s of th e n o tice. Q uestions r e g a r d i n g th is m atter may be d i r e c t e d to R ic h a r d West o r E ugene Coy, J r ., of o u r R egulations D epartm ent, Ext. 6171. S i n c e r e ly y o u r s , R o b ert H . Boykin F ir s t Vice P r e s i d e n t Banks and others are encouraged to use the fo llo w in g to ll-fr e e incoming WATS numbers in contacting th is Bank: 1-8 0 0 -49 2 -4 40 3 (in tra s ta te ) and 1 -8 0 0 -5 2 7 -4 9 7 0 (in te rs ta te ). For c a lls placed loc a lly , p lease use 651 plus the extension referred to above. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) CREDIT HISTORY FOR MARRIED PERSONS The Federal Equal Credit Opportunity Act prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age (provided that a person has the capacity to enter into a binding contract): because all or part of a person’s income derives from any public assistance program; or because a person in good faith has exercised any right under the Federal Consumer Credit Protection Act. Regulations under the Act give married persons the right to have credit information included in credit reports in the name of both the wife and the husband if both use or are responsible for the account. This right was created, in part, to insure that credit histories will be available to women who become divorced or widowed. If your account with us is one that both husband and wife signed for or is an account that is being used by one of you who did not sign, then you are entitled to have us report credit information relating to the account in both your names. If you choose to have credit information concerning your account with us reported in both your names, please fill in and sign the statement below and return it to us. Federal regulations provide that signing your name below will not change or increase your or your spouse’s legal liability on the account. Your signature will only request that credit information be reported in both your names. If you do not complete and return the form below, we will continue to report your credit history in the same way that we do now. When you furnish credit information on this account, please report all information concerning it in both our names. A ccount num ber Print or type name Print or type name Signature o f either spouse
@FedFRASER