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) …Continue reading "National Credit Reporting Agencies to Remove All Tax Liens from Consumer Credit Reports in April 2018"
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.Continue reading "CFPB Report Focuses on Removal of Civil Public Records from Credit Reports"
Written By ESR News Blog Editor Thomas Ahearn Three major national credit reporting agencies in the United States – Equifax, Experian, and TransUnion – will implement enhanced public record data standards for consumer credit reports beginning on July 1, 2017, according to a statement from the Consumer Data Industry Association (CDIA).Continue reading "Three Major Credit Reporting Agencies to Implement Enhanced Public Record Data Standards on July 1"
Written By ESR News Blog Editor Thomas Ahearn The Consumer Financial Protection Bureau (CFPB) has released a special report that details the problems in the credit reporting industry that the CFPB has uncovered and corrected through oversight work and outlines actions the CFPB has taken to address these problems such as fixing data accuracy …Continue reading "CFPB Releases Report Detailing Problems in Credit Reporting Industry"
Written By ESR News Blog Editor Thomas Ahearn The Council for the District of Columbia (D.C.) has passed the “Fair Credit in Employment Amendment Act” (Bill 21-244) to amend the Human Rights Act of 1977 and prohibit employers from taking discriminatory action against job applicants and current employees based on their credit report information.Continue reading "District of Columbia Council Passes Fair Credit in Employment Amendment Act to Ban Credit Checks by Employers"
Written By ESR News Blog Editor Thomas Ahearn The Consumer Financial Protection Bureau (CFPB) has ordered TransUnion and Equifax, Inc. to pay a total of more than $17.6 million in restitution to consumers, along with fines totaling $5.5 million to the CFPB, for deceiving consumers about the usefulness and actual cost of credit scores …Continue reading "CFPB Orders TransUnion and Equifax to Pay for Deceiving Consumers about Credit Scores"