CFPB Warns Nationwide Specialty Consumer Reporting Agencies to Give Consumers Easy Access to Free Consumer Reports

The Consumer Financial Protection Bureau (CFPB) has released a bulletin to nationwide specialty consumer reporting agencies (NSCRAs) as a reminder of their obligation under the federal Fair Credit Reporting Act (FCRA), which the CFPB oversees, to provide a “streamlined process” for consumers to obtain a free annual consumer report. The CFPB also issued warning letters …

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Consumer Financial Protection Bureau Announces New Corrected Forms Required by FCRA for Background Checks Starting January 1 2013

In November 2012, the Consumer Financial Protection Bureau (CFPB) announced in the Federal Register corrections to typographical and technical errors in the earlier versions of three new essential CFPB forms required by the Fair Credit Reporting Act (FCRA) in the background screening process starting January 1, 2013. These forms include ‘A Summary of Your Rights …

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Consumer Financial Protection Bureau Begins Accepting Credit Reporting Complaints from Consumers

The Consumer Financial Protection Bureau (CFPB) has begun to accept consumer complaints about credit reporting, marking the first time consumers will receive individual-level credit reporting complaint assistance at the federal level. The CFPB already handles complaints on credit cards, mortgages, bank accounts, and consumer and private student loans. To file a credit reporting complaint, consumers …

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CFPB Releases Examination Procedures for Larger Consumer Reporting Agencies to Verify Companies are Complying with Law

The Consumer Financial Protection Bureau (CFPB) has released the examination procedures to be used in examining larger credit bureaus and Consumer Reporting Agencies (CRAs) so CFPB examiners may verify that these companies are complying with requirements of federal consumer financial law. The CFPB’s authority to supervise larger consumer reporting companies takes effect September 30, 2012. …

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Consumer Financial Protection Bureau Adopts Rule to Supervise Larger Credit Reporting Companies

The Consumer Financial Protection Bureau (CFPB) has adopted a rule to begin supervising larger consumer reporting agencies – including the “big three” credit reporting companies Equifax, Experian, and TransUnion – for the first time at the federal level, according to a CFPB press release ‘Consumer Financial Protection Bureau to supervise credit reporting.’ The rule outlining …

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Inaccurate Criminal Background Checks from Data Brokers that Cost Job Seekers Employment Coming Under Fire

In recent weeks, inaccurate criminal background checks from data brokers containing errors that cost job seekers employment have come under fire on several fronts, including a final privacy protection report from the Federal Trade Commission (FTC) recommending regulations on data brokers, a letter sent to the Consumer Financial Protection Bureau (CFPB) asking for a strengthening …

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Consumer Financial Protection Bureau Asked to Strengthen Enforcement of FCRA for Criminal Background Checks of Job Applicants

The National Employment Law Project (NELP), National Consumer Law Center (NCLC), and Community Legal Services, Inc. (CLS) recently sent a letter to the Consumer Financial Protection Bureau (CFPB) providing information on a proposed Summary of Rights and regulatory changes to strengthen the protections found in the Fair Credit Reporting Act (FCRA) regarding criminal background checks …

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