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CFPB highlights unlawful practices by consumer reporting agencies, debt collectors and payday lenders

By Alan S. Kaplinsky on May 23, 2014

Posted in CFPB Exams, Credit Reports, Debt Collection, Fair Lending, Payday Lending, Regulatory and Enforcement

In its Spring 2014 Supervisory Highlights report issued yesterday, the CFPB highlighted deficiencies and violations it found during examinations of consumer reporting agencies (CRAs), debt collectors and payday lenders. The CFPB has authority to examine entities that qualify as “larger participants” under the final rules it adopted to supervise participants in the debt collection and consumer reporting markets and to examine payday lenders regardless of their size.… Continue Reading

CFPB exams are coming for credit bureaus and consumer reporting agencies

By John L. Culhane, Jr. on September 6, 2012

Posted in CFPB Exams, CFPB Rulemaking, Credit Reports, Regulatory and Enforcement

With the release of its examination procedures for credit bureaus and consumer reporting agencies, the CFPB is now one step closer to scheduling examinations for the 30 largest companies that it estimates account for about 94 percent of the market (measured by annual receipts). These are the companies it has deemed, by rule effective September 30, to be the larger participants in this market.… Continue Reading