FTC and CFPB Hold Workshop on Accuracy in Consumer Reporting

Accuracy

Written By ESR News Blog Editor Thomas Ahearn

On December 10, 2019, the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) held a free public workshop on Accuracy in Consumer Reporting that examined issues affecting the accuracy of traditional credit reports and background screening reports. A video recording of the workshop is available at https://ftc-workshop-accuracy-consumer-reporting.videoshowcase.net/.

The Accuracy in Consumer Reporting Workshop brought together representatives from consumer reporting agencies (CRAs), trade associations, furnishers, and consumer advocacy organizations for a wide-ranging public discussion on the changes in legal requirements and technological developments that may affect the accuracy of consumer reports. The workshop included four panel discussions:

The FTC and CFPB workshop – which was held the Constitution Center in Washington, D.C. – included remarks from FTC Commissioner Noah Joshua Phillips, CFPB Assistant Director for Supervision Policy Peggy Twohig, CFPB Deputy Director Brian Johnson, FTC Deputy Director for the Bureau of Economics Andrew Stivers, and the Associate Director in the FTC’s Division of Privacy and Identity Protection Maneesha Mithal.

The CFPB and FTC also enforce the federal Fair Credit Reporting Act (FCRA) that regulates CRAs in the United States. In 2018, the CFPB updated a document required by the FCRA called “A Summary of Your Rights Under the Fair Credit Reporting Act” (en Español) to reflect changes made to the FCRA when Congress passed the Economic Growth, Regulatory Relief, and Consumer Protection Act.

Employment Screening Resources® (ESR) is a global consumer reporting agency (CRA) that is accredited by the Professional Background Screening Association (PBSA), undergoes annual SOC 2 (SSAE 18) audits, complies with FTC and CFPB regulations, and follows FCRA requirements to ensure accuracy in consumer reporting. ESR was also named a top screening firm by HRO Today Magazine. To learn more, visit www.esrcheck.com.

NOTE: Employment Screening Resources® (ESR) does not provide or offer legal services or legal advice of any kind or nature. Any information on this website is for educational purposes only.

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