Tag: CFPB

CFPB Announces Ceiling on Charges for FCRA Disclosures Increased in 2019

Written By ESR News Blog Editor Thomas Ahearn On December 31, 2018, the Consumer Financial Protection Bureau (CFPB) – the agency responsible for consumer protection in the financial sector – announced the ceiling on allowable charges for disclosures under the federal Fair Credit Reporting Act (FCRA) had increased from $12.00 to $12.50, effective for 2019.

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CFPB Settles with Bank for Violating FCRA by Obtaining Consumer Reports without Permissible Purpose

Written By ESR News Blog Editor Thomas Ahearn On December 6, 2018, the Consumer Financial Protection Bureau (CFPB) – the U.S. government agency responsible for consumer protection in the financial sector that may soon be called the Bureau of Consumer Financial Protection (BCFP) – announced a settlement with State Farm Bank for violating the Fair …

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CFPB Issues Updated FCRA Model Disclosures

Written By ESR News Blog Editor Thomas Ahearn On September 12, 2018, the Consumer Financial Protection Bureau (CFPB) – also known as the Bureau of Consumer Financial Protection (BCFP) and the United States government agency responsible for consumer protection in the financial sector – issued an interim final rule updating two model disclosures to reflect …

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CFPB Issues Interim Final Rule that Requires Inclusion of New Notice in Summary of FCRA Rights

Written By ESR News Blog Editor Thomas Ahearn On September 12, 2018, the Consumer Financial Protection Bureau (CFPB) – the United States government agency responsible for consumer protection in the financial sector – issued an interim final rule to be effective on September 21, 2018, that requires a new notice of rights to be included …

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CFPB Called Far Too Powerful with Little Oversight of Activities in Report

Written By ESR News Blog Editor Thomas Ahearn In April 2018, the Consumer Financial Protection Bureau (CFPB) – the United States government agency responsible for consumer protection in the financial sector – presented the CFPB’s Semi-Annual Report to Congress for the period beginning on April 1, 2017, and ending on September 30, 2017.

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National Credit Reporting Agencies to Remove All Tax Liens from Consumer Credit Reports in April 2018

Written By ESR News Blog Editor Thomas Ahearn In March 2017, ESR News reported that national credit reporting agencies (NCRAs) Equifax, Experian, and TransUnion had announced the implementation of enhanced standards for the collection and timely updating of public record data included in consumer credit reports as part of the National Consumer Assistance Plan (NCAP) …

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CFPB Report Focuses on Removal of Civil Public Records from Credit Reports

Written By ESR News Blog Editor Thomas Ahearn On February 22, 2018, the Consumer Financial Protection Bureau (CFPB) – a U.S. government agency responsible for consumer protection in the financial sector – released the latest Quarterly Consumer Credit Trends report that focused on the removal of civil public records from consumer credit reports.

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CFPB To Redirect Mission and Focus Under New Leadership While Enforcing Consumer Protection Laws

Written By ESR News Blog Editor Thomas Ahearn On January 23, 2018, Mick Mulvaney, Acting Director of the Consumer Financial Protection Bureau (CFPB) – an agency of the U.S. government responsible for consumer protection in the financial sector – sent a memo to employees informing them that the CFPB would continue to fulfill its legal …

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President Trump Designates OMB Director Mick Mulvaney as Acting Director of CFPB Amid Controversy

Written By ESR News Blog Editor Thomas Ahearn On November 27, 2017, the White House released a statement supporting the legality of President Donald J. Trump’s designation of Mick Mulvaney, the Director of the Office of Management and Budget (OMB), as the Acting Director of the Consumer Financial Protection Bureau (CFPB) just days after the CFPB announced that …

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CFPB Orders Bank to Pay $4.6 Million Penalty for Violating FCRA Requirements for Checking Account Screening Reports

Written By ESR News Blog Editor Thomas Ahearn On August 2, 2017, the Consumer Financial Protection Bureau (CFPB) ordered JPMorgan Chase Bank, N.A. to pay a $4.6 million penalty for failing to comply with obligations outlined in the federal Fair Credit Reporting Act (FCRA) related to the accuracy of information about consumer checking account behavior provided …

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