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.
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…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.
May I Send Adverse Action Notices to Joint Applicants at the Same Mailing Address—Even if They Reside at Different Addresses?
. . . 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.
The Consumer Financial Protection Bureau today released a study of the effects of so-called credit-builder loans on credit scores.
In a letter to House leadership today, the American Bankers Association expressed its opposition for H.R. 5332. Introduced by Rep. Josh Gottheimer (D-N.J.), the Protecting Your Credit Score Act of 2020 is scheduled to be considered this week.
Credit applications—as measured by the number of credit inquiries—fell significantly in March during the early days of the coronavirus pandemic in the U.S., according to a new report issued by the Consumer Financial Protection Bureau today.