(a) Purpose. The purpose of this part is to implement section 214 of the Fair and Accu-rate Credit Transactions Act of 2003, which (by adding section 624 to Fair Credit Reporting Act) regulates the use, for marketing solicitation purposes, of consumer information provided by persons affiliated with the person making the solicitation.

Terms Used In 16 CFR 680.1

  • Act: means the Fair Credit Reporting Act (15 U. See 16 CFR 680.3
  • consumer: means an individual. See 16 CFR 680.3
  • motor vehicle dealer: means any person excluded from Consumer Financial Protection Bureau jurisdiction as described in 12 U. See 16 CFR 680.3
  • person: means any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency, or other entity. See 16 CFR 680.3
  • solicitation: means the marketing of a product or service initiated by a person to a particular consumer that is—

    (i) Based on eligibility information communicated to that person by its affiliate as described in this part; and

    (ii) Intended to encourage the consumer to purchase or obtain such product or service. See 16 CFR 680.3

(b) Scope. This part applies to any motor vehicle dealer as defined in § 680.3 that uses information from its affiliates for the purpose of marketing solicitations, or provides information to its affiliates for that purpose.

[72 FR 61455, Oct. 30, 2007, as amended at 86 FR 51610, Sept. 16, 2021]

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