On November 22nd, the CFPB issued a press release announcing that a stipulated final judgment and order (Order) were filed in the U.S. District Court for the Southern District of New York against Sterling Infosystems, Inc. (Sterling) to resolve allegations that the employment background screening company violated the Fair Credit Reporting Act (FCRA).  The CFPB’s

On September 25, 2019, the CFPB filed a lawsuit in federal district court in Maryland against Maryland-based debt collector FCO Holding, Inc. (“FCO”), its various subsidiaries and Michael E. Sobota, the CEO, president, director, and owner of FCO. According to the lawsuit, FCO and Sobota operate the largest debt-collection company in the multi-unit housing industry,

Four bills dealing with credit reporting were passed last Thursday by the House Financial Services Committee.  While there has been bipartisan support for credit reporting reform, none of the bills received any Republican votes.

The bills, which are listed below, would make various amendments to the FCRA, including those described below:

The CFPB has published two final rules in today’s Federal Register, one dealing with civil penalty adjustments and the other with allowable charges for FCRA disclosures.  Both rules are effective immediately.

Civil penalty adjustments.  The CFPB’s final rule finalizes an interim final rule (IFR) it published in November 2016 to create 12 C.F.R.

At the end of last week, the CFPB announced that it had entered into a consent order with State Farm Bank, FSB to settle allegations that the Bank violated the Fair Credit Reporting Act, Regulation V, and the Consumer Financial Protection Act in connection with furnishing information to consumer reporting agencies (CRAs ) and obtaining

On September 12, 2018, the Bureau of Consumer Financial Protection (the “Bureau”) issued an interim rule to update two model disclosures following the recent enactment of the Economic Growth, Regulatory Relief, and Consumer Protection Act (the “Act”).

Pursuant to the Act, nationwide consumer reporting agencies must provide free national security freezes, which prevent potential lenders

Congress is back in session and this Thursday, September 7, the House Subcommittee on Financial Institutions and Consumer Credit will hold a one-panel hearing entitled “Legislative Proposals for a More Efficient Federal Financial Regulatory Regime.”  The hearing will take place at 10:00 a.m. in room 2128 of the Rayburn House Office Building, and will involve