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CFPB Sample Accuracy Report (2014)

This is a two page form that the CFPB requested that CRCs complete to aid the CFPB in its analysis of the consumer reporting industry.

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CFPB Supervisory Highlights, Consumer Reporting (2017)

This March, 2017, CFPB report describes the CFPB’s supervisory highlights concerning credit reporting—supervision of credit reporting agencies, furnishers of information to the agencies, and those using the information.  The CFPB identified failings in compliance management systems and violations of law both at CRCs and at furnishers.

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CFPB Examination Procedures for Consumer Reporting Agencies (Sept. 2012)

This is the 2012 version of the CFPB’s examination procedures to supervise the larger participants in consumer reporting industry, including such topics as business model, accuracy of information and furnisher relations, contents of consumer reports,  permissible purposes and other user issues, consumer file and score disclosures,  consumer inquiries, complaints, and disputes and the reinvestigation process,  consumer alerts and identity theft provisions prescreening, employment reports, and investigative consumer reports.

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CFPB Bulletin on CRAs' Reponsibilities Under FCRA for Written Policies to Protect Accuracy and Integrity (Feb. 2016)

This is CFPB Compliance Bulletin 2016-01 (Feb. 3, 2016) concerning the FCRA requirement that furnishers establish and implement reasonable written policies and procedures regarding the accuracy and integrity of information furnished to all CRAs, including specialty CRAs, such as the furnishing of deposit account information to CRAs.

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Final FTC Report Under FACTA on Credit Report Accuracy (Jan. 2015)

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Statement of Comm. Brill re Final FTC Report Under FACTA on Credit Report Accuracy (Jan. 2015)

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CFPB Analysis of Difference Between Consumer- and Creditor-Purchased Credit Scores (Sept. 2012)

This September 2012 CFPB report analyzes the differences between credit reports obtained by creditors and those obtained by consumers. CFPB analyzed credit scores from 200,000 credit files from each of the three major nationwide CRAs. The CFPB found that for a majority of consumers the scores produced by different scoring models provided similar information about the relative creditworthiness of the consumers. For a substantial minority, however, different scoring models gave meaningfully different results.

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Key Dimensions and Processes in the U.S. Credit Reporting System (CFPB Report, Dec. 2012)

This December 2012 CFPB study describes the credit reporting infrastructure at the three largest nationwide consumer reporting agencies (NCRAs) to collect, compile, and report information about consumers. Most furnishers provide consumer credit information electronically to one or more NCRAs using a standardized format called Metro 2.

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CFPB Data Point: Medical Debt and Credit Scores (May 2014)

This May 2014 CFPB report considers the reporting of unpaid medical bills, where 99.4% of this information is reported to the national CRAs by collection agencies. Credit scoring models generally do not differentiate between medical collections and the other debts. VantageScore 3.0, excludes paid collections, but earlier versions treated paid and unpaid collections equally. The CFPB examination found that medical debt was less predictive of credit risk than non-medical collections, and that paid medical debt was less predictive than unpaid medical debt.

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Consumer Credit Reports: A Study of Medical and Non-Medical Collections (CFPB Report, Dec. 2014)

This December 2014 CFPB report describes characteristics of the medical and non-medical collections tradelines on consumers’ credit reports and the processes by which they appear and disappear. 19.5% of consumers with credit reports have one or more medical collections tradelines and 24.5%. contain one or more non-medical tradelines. 80% of tradelines that can be attributed to a particular creditor or provider are reported on accounts that originated with a healthcare provider, utility company, or telecommunications company. Most collections tradelines are for small amounts.

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Consumer Voices on Credit Reports and Scores (CFPB Report, Feb. 2015)

This February 2015 CFPB report reports on a series of consumer focus groups around credit reports and credit scores. The focus groups yielded rich detail about consumers’ experiences and what they know and think about credit reports and scores. This report summarizes what the CFPB heard from consumers and discusses how these findings could shape financial education approaches for consumers.

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FTC Report Under FACTA on Credit Report Accuracy (Dec. 2012)

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FTC Informal Opinion on California Health and Wellness FCRA Compliance (Sept. 8, 2015)

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CFPB Final Rule Amending 2013 Mortgage Servicing Rules Under Reg X and Reg Z (Oct. 19, 2016)

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AAA Arbitrator's Decision Refusing to Hear Claims for Public Injunction (DeVries v. Experian)

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PHEAA Audit of NCSLT Loans

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GAO Report: Social Security Offsets: Improvements to Program Design Could Better Assist Older Student Loan Borrowers with Obtaining Permitted Relief (Dec. 2016)

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Rule Changes Effective December 2017

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FTC Decision and Order Re Auto Dealer's Misleading Advertisement of No Required Down Payment

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FTC Letter to NADA Director Re Auto Dealer's Misleading Advertisement of No Required Down Payment

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DePaul Law Review Article Summarizing Legislative History of the 1978 Bankruptcy Reform Act

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Senate Report 95-989 on 1978 Bankruptcy Reform Act

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Senate Report 95-1106 on 1978 Bankruptcy Reform Act