Browsing: Credit reporting

Newsbytes ABA, associations urge CFPB to move cautiously in credit reporting rulemaking

A CFPB proposal to overhaul how it regulates consumer credit reporting should first be put forward as an advanced notice of proposed rulemaking or else it risks “a rushed, inadequate rulemaking process raises the stakes for dramatic changes to the foundation of the American economy,” ABA, the U.S. Chamber of Commerce and 10 financial industry associations said.

Newsbytes CFPB: Credit reporting agencies improved consumer complaint process

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.

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