DEFINITION of 'Regulation V'

One of the regulations set forth by the Federal Reserve designed to implement the Fair Credit Reporting Act (FCRA). Regulation V was enacted to promote fairness, accuracy and to protect the privacy of consumers with regards to information collected by credit reporting agencies.

BREAKING DOWN 'Regulation V'

Regulation V applies only to banks that are members of the Federal Reserve. Regulation V pertains to anyone who obtains and uses consumer credit information.

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