Tag Archives: Credit Reporting

Just because grandma allows your kids to run in her house does not mean that you have to let them run in yours, the Consumer Financial Protection Bureau announced to states yesterday, issuing an interpretive rule reminding them that the Fair Credit Reporting Act does not preempt states from enacting …

The Buy Now, Pay Later (BNPL) space is a new form of credit, and like anything new, it is going through growth stages and reaching new milestones everyday. The Consumer Financial Protection Bureau yesterday published a blog post pointing out the need for standardization in how BNPL debts are reported …

The Consumer Financial Protection Bureau is asking each of the nation’s six largest credit card lenders why they are choosing to not include the amount that their customers pay each month when furnishing information to the credit reporting agencies, saying that the practice has the potential to suppress consumers’ credit …

A class-action lawsuit has been filed in New Jersey alleging a collector violated the Fair Debt Collection Practices Act by overshadowing the validation notice in a collection letter when it made reference to furnishing information to a credit reporting agency once the validation period expired. A copy of the complaint …

I have no proof of this, but my gut tells me that Rohit Chopra is a pretty good chess player. All the proof I need are the press releases that the Consumer Financial Protection Bureau has been issuing over the past couple of months. To me, those releases are the …

The Department of Veterans Affairs has published a final rule detailing how delinquent debts owed to the VA are reported to credit reporting agencies. The new rule, which establishes a minimum threshold for what will be reported, goes into effect on March 4. About 5,000 delinquent accounts are reported to …

The three major credit reporting agencies — Equifax, Experian, and TransUnion — are not treating consumers fairly, which is resulting in consumers suffering “serious harms,” according to a report issued yesterday by the Consumer Financial Protection Bureau. The report, along with pointing out how the three major bureaus are failing …

A number of leading Senate Democrats are calling on Rohit Chopra and the Consumer Financial Protection Bureau to “take concrete steps to reform the credit reporting industry,” including improving the accuracy of credit reports and streamlining the dispute resolution process. The Senators, including. Sen. Sherrod Brown [D-Ohio], the chairman of …

Consumers that live in neighborhoods where the majority of individuals are African-American or Hispanic, or who are delinquent on their payments, or who are younger, or who have lower credit scores are the individuals who are most likely to dispute items on their credit reports, according to an analysis conducted …

Anyone in the accounts receivable management industry who credit reports cringes when the words “Credit Karma” are mentioned. The app has led to a significant spike in the number of disputes filed by consumers about items on their credit reports and caused companies in the industry to spend more time …