We review the following findings and discuss their compliance implications: FCRA violations based on obtaining credit reports without a permissible purpose, incorrectly reporting the date of first delinquency, failing to conduct reasonable dispute investigations; Reg. E violations based on waivers of consumers’ dispute rights, use of incorrect date to determine timeliness of error notices, providing

In a new report on consumer credit trends, the CFPB looks at how recent changes to the public record data standards used by the “Big 3” consumer reporting agencies (CRAs) have affected consumers’ credit reports and  credit scores.  The data used in the report comes from the CFPB’s Consumer Credit Panel, which the report describes

Yesterday we blogged about CFPB Bulletin 2013-09, which examined the CFPB’s expectations of furnishers investigating disputes under the federal Fair Credit Reporting Act (FCRA). The FCRA was also the topic of a panel sponsored by the Consumer Financial Services Committee at the American Bar Association’s Annual Meeting in San Francisco on Friday, August 9. Much

On May 7, the Senate Commerce Committee’s Subcommittee on Consumer Protection, Product Safety, and Insurance will hold a hearing titled “Credit Reports: What Accuracy and Errors Mean for Consumers.” 

The first witness panel consists of Corey Stone, the CFPB’s Assistant Director for Deposits, Cash, Collections, and Reporting Markets, and Maneesha Mithal, the FTC’s Associate Director