ABA: House Bill Would Undermine Usefulness of Credit Reports

ABA Banking Journal (blog)
Introduced by Rep. Josh Gottheimer (D-N.J.), the Protecting Your Credit Score Act of 2020 is scheduled to be considered this week. While well- ...

CSBS and CFPB Issue Joint Statement On CARES Act Mortgage Loan Forbearances

JD Supra (press release)
The Conference of State Bank Supervisors (CSBS) and the Consumer Financial Protection Bureau (CFPB) recently issued a joint statement ...

New Litigation May Further Clarify the FCRA’s Definition of “Consumer Reporting Agency”

The National Law Review
An employer's obligations under the Fair Credit Reporting Act (“FCRA”) are triggered when it obtains a “consumer report” from a “consumer reporting ...

CFPB Issues Interim Final Rule to Enable COVID-19 Payment Deferral Options

JD Supra (press release)
A little over a month later, on June 23, 2020, the Consumer Financial Protection Bureau (CFPB) released an interim final rule that amends Regulation ...

CFPB Settles Claims For Alleged UDAAP And FCRA Violations By Companies Issuing Contracts For Deeds

JD Supra (press release)
... and implement adequate policies and procedures regarding the accuracy and integrity of information furnished to consumer reporting agencies.

CFPB Issues Compliance Aid Regarding CARES Act Credit Reporting Provisions

Lexology
Section 4021 of the CARES Act amends the Fair Credit Report Act (FCRA) to address coronavirus-related accommodations made by furnishers.

Experian Avoids Hefty Punitive Damage Award, but Still Has to Pay $5,000 for a Single FCRA Violation For Claimed Pain and Suffering

The National Law Review
The Eleventh Circuit vacated a $490,000 punitive damages award last Friday for a single FCRA violation, finding that there wasn't enough proof of a ...

New Credit Reporting Bill Passed by House, Seeks to Make Credit Reporting More Consumer-Friendly

insideARM.com
Josh Gottheimer (D-NJ-5), would amend the Fair Credit Reporting Act and require the Consumer Financial Protection Bureau (CFPB) to take certain ...

U.S. House passes major credit reporting reform

State PIRGs
On Monday, the U.S. House approved H.R. 5332, the Protecting Your Credit Score Act of 2020 (Gottheimer-NJ). U.S. PIRG joined other leading ...

FCRA Consumer Disputes and Reinvestigations

JD Supra
... to handle consumer disputes under the Fair Credit Reporting Act (FCRA). The Consumer Financial Protection Bureau (CFPB) issued a Compliance ...

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