A creditor that furnishes credit information must designate any new account to reflect the participation of both spouses if the applicant's spouse is permitted to use or is contractually liable on the account (other than as a guarantor, surety, endorser, or similar party). The creditor must also designate any existing account to reflect such participation, within 90 days after receiving a written request to do so from one of the spouses.
If a creditor furnishes credit information to a consumer reporting agency concerning an account designated to reflect the participation of both spouses, the creditor must furnish the information in a manner that will enable the agency to provide access to the information in the name of each spouse.
If a creditor furnishes credit information in response to an inquiry (from a credit reporting agency) concerning an account designated to reflect the participation of both spouses, the creditor shall furnish the information in the name of the spouse about whom the information is requested.
12 C.F.R. Section 202.10 Furnishing of credit information.
(a) Designation of accounts. A creditor that furnishes credit information shall designate:
(1) Any new account to reflect the participation of both spouses if the applicant's spouse is permitted to use or is contractually liable on the account (other than as a guarantor, surety, endorser, or similar party); and
(2) Any existing account to reflect such participation, within 90 days after receiving a written request to do so from one of the spouses.
(b) Routine reports to consumer reporting agency. If a creditor furnishes credit information to a consumer reporting agency concerning an account designated to reflect the participation of both spouses, the creditor shall furnish the information in a manner that will enable the agency to provide access to the information in the name of each spouse.
(c) Reporting in response to inquiry. If a
creditor furnishes credit information in response to an inquiry concerning
an account designated to reflect the participation of both spouses, the
creditor shall furnish the information in the name of the spouse about
whom the information is requested.
