Letter to CFPB on Consumer Reporting in Cases of Human Trafficking

Bureau of Consumer Financial Protection
1700 G Street NW
Washington DC 20552

Ladies and Gentlemen:

The American Bankers Association (ABA)1 appreciates the opportunity to comment on the Bureau of Consumer Financial Protection’s (Bureau) request for comment on its proposed amendments to regulations implementing the Fair Credit Reporting Act (FCRA) to implement §6102 of the National Defense Authorization Act for Fiscal Year 2022. That section added a new §605C to the FCRA to prohibit consumer reporting agencies (CRAs) from furnishing a consumer report containing any adverse item of information concerning a consumer that resulted from a severe form of trafficking in persons or sex trafficking if the consumer has provided appropriate trafficking documentation to the CRA.

Banks play an essential role in preventing and detecting human trafficking and human smuggling by identifying for law enforcement suspicious transactions that may be associated with human trafficking. Banks also understand that they have a broader role to play in preventing human trafficking and are committed to doing their part

As part of that commitment, ABA offers its members a free Frontline training course, Human Trafficking and Human Smuggling, which is designed to train bank staff, including frontline staff, about financial and behavioral indicators of human trafficking and human smuggling and appropriate bank responses, including alerting law enforcement.

ABA and its members participate in a variety of groups designed to combat human trafficking and human smuggling including:

• The Liechtenstein Initiative (Finance Against Slavery and Trafficking) which is under the auspices of the United Nations;
• The Treasury Department-led President’s Interagency Task Force to Monitor and Combat Trafficking;
• The Knoble, a non-profit organization dedicated to combatting human trafficking and human smuggling;  and
• The Polaris Project, another non-profit dedicated to combatting human trafficking and human smuggling.

ABA is also working with the law firm, Jones Day, on educational efforts to identify and address human smuggling and human trafficking.

Download the comment letter to read the full text.