12 C.F.R. § 1022.70
§ 1022.70 Scope. (12 CFR Part 1022)
Operative Text
(a) Coverage—(1) In general. This subpart applies to any person, except for a person excluded from coverage of this part by section 1029 of the Consumer Financial Protection Act of 2010, title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 111-203, 124 Stat. 137, that both: (i) Uses a consumer report in connection with an application for, or a grant, extension, or other provision of, credit to a consumer that is primarily for personal, family, or household purposes; and (ii) Based in whole or in part on the consumer report, grants, extends, or otherwise provides credit to the consumer on material terms that are materially less favorable than the most favorable material terms available to a substantial proportion of consumers from or through that person. (2) Business credit excluded. This subpart does not apply to an application for, or a grant, extension, or other provision of, credit to a consumer or to any other applicant primarily for a business purpose. (b) Enforcement. The provisions of this subpart will be enforced in accordance with the enforcement authority set forth in sections 621(a) and (b) of the FCRA.
Section 1022.70 defines who must follow the risk-based pricing notice rules established in this subpart of the Fair Credit Reporting Act regulations. The rule covers any person who uses a consumer credit report when deciding to extend personal, family, or household credit, and who then offers that credit on terms materially less favorable than those offered to a substantial portion of their other consumers. Business-purpose credit transactions fall entirely outside the scope of this subpart, and enforcement authority flows from sections 621(a) and (b) of the FCRA.
Plain English — not legal advice.
Landlords and property managers who pull consumer credit reports to evaluate rental applicants and then offer housing-related credit products—such as certain lease arrangements that function as credit extensions—on terms less favorable than those offered to better-qualified applicants should be aware that § 1022.70 may bring those practices within the risk-based pricing notice framework. Operators generally confirm whether their credit-related activities qualify as personal, family, or household credit under this scope provision before determining their compliance obligations. Because business-purpose transactions are explicitly excluded under § 1022.70(a)(2), operators who extend credit solely for commercial or investment purposes typically document that purpose clearly.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Under § 1022.70, if a creditor used your consumer report to offer you personal, family, or household credit on terms materially less favorable than those available to a substantial portion of other consumers, you may have rights under the risk-based pricing notice rules that flow from this provision. Tenants who believe a landlord or related creditor failed to provide required notices can explore options such as filing a complaint with the Consumer Financial Protection Bureau or consulting a tenant-rights or consumer-rights organization familiar with FCRA enforcement. Enforcement of § 1022.70 is carried out under the authority described in sections 621(a) and (b) of the FCRA, which outlines the agencies and mechanisms available to address violations.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated September 4, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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