Student Loan Servicers Are Dinging Credit Reports For The CARES Act Forbearance

Forbes
Robert P., a student loan borrower from Queens, New York, was surprised to find out that this credit score had dropped by 100 points after his federal ...

FTC Report on Credit Reports and Disputes

JD Supra (press release)
On the enforcement side, the report states, the FTC has brought more than 30 actions in the last decade enforcing the Fair Credit Reporting Act ...

FCRA in the Spotlight

CUNA News (press release)
Credit unions as furnishers of information to credit reporting agencies play a vital role in the consumer reporting system. Therefore, it came as no ...

The coronavirus could force a full-blown crisis in credit scoring

American Banker
Lawmakers are working to head off a wave of pandemic-related personal credit downgrades. But there are bigger problems with how credit risk is .

Student borrowers sue over 'illegally damaged' credit scores amid coronavirus pandemic

Yahoo Money
Consumer advocates are suing federal student loan servicer Great Lakes, VantageScore Solutions, and three credit reporting agencies over failure to ...

Navient Files Motion for Summary Judgment in CFPB Case

ACA International
Student loan servicer Navient filed a summary judgment May 19 seeking an end to a lawsuit, without a trial, from the Consumer Financial Protection ...

CFPB updates FAQs to discuss consumer assistance by financial services providers during COVID-19 pandemic

JD Supra (press release)
In its responses, the CFPB reminds providers that they can offer consumers immediate relief by changing account terms without advance notice under ...

FCRA in the Spotlight

CUNA News (press release)
Report the voluntary closing of credit accounts. Notify the agency when a consumer disputes the completeness or accuracy of furnished information.

HEROES Act Includes Potentially Disastrous FCRA Amendments

Lexology
The bill also includes proposed amendments to the Fair Credit Reporting Act (“FCRA”). Unfortunately, these well-intentioned amendments to FCRA do ...

Fair Credit Reporting Act — debt legality; consumer reporting agency

Chicago Daily Law Bulletin
Where consumer reporting agency was not required to validate legality of debt under the Fair Credit Reporting Act. The 7th U.S. Circuit Court of ...

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