CFPB Report Details Complaint Response Deficiencies of Large Credit Bureaus

Written By ESR News Blog Editor Thomas Ahearn On January 5, 2022, the Consumer Financial Protection Bureau (CFPB) released its annual report of consumer and credit reporting complaints that revealed how changes in complaint responses from three nationwide consumer reporting agencies (NCRAs) – Equifax, Experian, and TransUnion – resulted in less consumer relief. The report from…

CFPB Advisory Opinion Affirms CRAs Using “Name-Only Matching” Violate FCRA

Written By ESR News Blog Editor Thomas Ahearn On November 4, 2021, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to affirm that consumer reporting agencies (CRAs) that use “name-only matching” for records are not using “reasonable procedures to assure maximum possible accuracy” as required by the federal Fair Credit Reporting Act (FCRA).…

CFPB Reminds CRAs to Report Accurate Rental and Eviction Information

Written By ESR News Blog Editor Thomas Ahearn On July 1, 2021, the Consumer Financial Protection Bureau (CFPB) – which empowers consumers to take more control over their economic lives – released “Enforcement Compliance Bulletin 2021-03: Consumer Reporting of Rental Information” to remind landlords and consumer reporting agencies (CRAs) of their critical obligations to accurately…

Accuracy of Criminal Records Used for Background Checks Will Become New Area of Litigation

Written By Employment Screening Resources® (ESR) The accuracy of job applicant criminal records used by employers and consumer reporting agencies (CRAs) to conduct background checks will become a new area of litigation filed over alleged violations of the Fair Credit Reporting Act (FCRA) that regulates background screening, according to the “ESR Top Ten Background Check…