Written By Digital Content Editor Thomas Ahearn On June 8, 2023, the Consumer Financial Protection Bureau (CFPB) ordered an Indiana-based medical debt collector that furnishes information to consumer reporting agencies (CRAs) about consumers to pay a penalty of $1.675 million for violations of the Fair Credit Reporting Act (FCRA), according to a CFPB news release.…
Written By Digital Content Editor Thomas Ahearn Consumer complaints against National Consumer Reporting Agencies (NCRAs) nearly doubled from 2021 to 2022, according to a report released by the U.S. PIRG Education Fund (PIRG) in March 2023 that analyzed consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB). The report “Big credit bureaus, record complaints:…
Written By Digital Content Editor Thomas Ahearn On March 17, 2023, the Consumer Financial Protection Bureau (CFPB) published an updated version of “A Summary of Your Rights Under the Fair Credit Reporting Act” for both the English and Spanish versions pursuant to the Updated and Corrected Agency Contact Information Rule, according to a message on…
Written By Digital Content Editor Thomas Ahearn Two “people search” service providers have disclosed that data breaches have affected a total of more than 20 million users – over 11.9 million accounts at one and more than 8.1 million accounts at the other – according to individual data breach notices published by both companies and…
Written By Digital Content Editor Thomas Ahearn The Office of Information and Regulatory Affairs (OIRA) in the Office of Management and Budget (OMB) has released the Fall 2022 Unified Agenda of Regulatory and Deregulatory Actions for administrative agencies such as the Consumer Financial Protection Bureau (CFPB) that includes the CFPB’s 2023 regulatory agenda which reveals the…
Written By Digital Content Editor Thomas Ahearn On January 3, 2023, the Consumer Financial Protection Bureau (CFPB) released an annual report that details improvements and deficiencies in the nationwide consumer reporting companies’ responses to consumer complaints transmitted by the CFPB, according to a press release from the CFPB about the report. The report titled “Annual…
Written By Digital Content Editor Thomas Ahearn On November 21, 2022, the Consumer Financial Protection Bureau (CFPB) issued a final rule on “Fair Credit Reporting Act Disclosures Annual Adjustment” to establish the maximum allowable charge for disclosures by a consumer reporting agency (CRA) to a consumer under Section 609 of the Fair Credit Reporting Act (FCRA).…
Written By Digital Content Editor Thomas Ahearn On November 10, 2022, the Consumer Financial Protection Bureau (CFPB) issued a circular about “Reasonable Investigation of Consumer Reporting Disputes” to affirm that consumer reporting companies and information furnishers cannot “skirt dispute investigation requirements,” according to a news release from the CFPB. “The CFPB found that consumer reporting…
Written By Digital Content Editor Thomas Ahearn The United States Congress is considering a bill titled “Credit Reporting Accuracy After a Legal Name Change Act of 2022” (H.R.8478) that would amend the federal Fair Credit Reporting Act (FCRA) to require nationwide consumer reporting agencies (CRAs) to use a consumer’s current legal name on consumer reports…
Written By Digital Content Editor Thomas Ahearn On August 31, 2022, the California State Assembly passed Senate Bill 1262 (SB 1262) which would lessen delays in criminal background checks by allowing consumer reporting agencies (CRAs) public access to identifiers used to match individuals to court records, according to the SB 1262 page on the California…
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