The nation’s three largest consumer reporting agencies have improved how they handle consumer complaints since a 2022 report faulted them for failing to meet their Fair Credit Reporting Act obligations, the Consumer Financial Protection Bureau said today in its annual report on credit and consumer complaint reporting.
The Consumer Financial Protection Bureau today issued guidance to consumer reporting companies about their legal obligation to screen for and eliminate false data from consumers’ credit reports.
The CFPB issued an interpretive rule related to the Fair Credit Reporting Act’s provisions regarding companies that use and share consumer reports.
Consumer reporting complaints received by the CFPB increased significantly in 2021 over the prior year, with the bureau receiving more than 500,000 credit or consumer reporting complaints between January and September 2021 compared to the 319,000 it received in all of 2020, according to a report released today.
…and other questions from ABA Regulatory Policy and Compliance Inbox
With pandemic-related rental protections set to expire over the coming months, the Consumer Financial Protection Bureau today issued a compliance bulletin and policy guidance regarding consumer reporting of rental information.
The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products. Among other things, examiners flagged issues related to consumer reporting, debt collection and payday lending.
. . . and other questions and answers from the March/April 2021 ABA Regulatory Policy and Compliance Inbox.
The Consumer Financial Protection Bureau’s Task Force on Federal Consumer Financial law today issued an…
COVID-19 forbearance programs—and the rules, regulations and requirements that govern them—present a host of new and unique compliance challenges for mortgage servicers.