To address concerns about the vulnerability of foster care children to credit reporting problems, the CFPB has published three action letter templates for child welfare caseworkers to send to credit bureaus if they find errors on the credit reports of children in their care.
In its press release announcing the publication of the letters, the CFPB observed that the youth in foster care are particularly susceptible to credit problems and identity theft because they often lack a permanent address, and their personal information is frequently shared among numerous adults and agency databases. … Continue Reading