Tag Archives: Credit Reporting

CFPB Report Analyzes Credit Reporting Complaints

CFPB Logo

The Consumer Financial Protection Bureau is looking at instituting new rules regulating credit reporting agencies, based on the volume of consumer complaints that it has received related to consumers’ credit reports. The Bureau yesterday released a report that analyzed the complaints filed by consumers against Equifax, Experian, and TransUnion, spotlighting …

Read More »

CFPB Publishes Guidance Addressing ‘Shoddy’ FCRA Dispute Investigation Practices by Furnishers, CRAs

CFPB Logo

The Consumer Financial Protection Bureau yesterday issued guidance that warns furnishers of information to credit reporting agencies — and the agencies themselves — about the perils of not conducting reasonable investigations when consumers submit disputes about items on their credit reports. Credit reporting agencies must promptly notify furnishers and provide …

Read More »

CFPB Reminds Furnishers About Sending Accurate Info to CRAs

CFPB Logo

The Consumer Financial Protection Bureau yesterday issued an advisory opinion reminding furnishers of information to the credit reporting agencies about the importance of insuring that the information being furnished is accurate and not “junk” data. The volume of consumer complaints about inaccuracies in their credit reports, combined with the results …

Read More »

CFPB Calls for Standard Credit Reporting on BNPL Debts

CFPB Logo

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 …

Read More »
X