This article examines practice implications of three recent CFPB interpretations of the Fair Credit Reporting Act, including: tenant and background screening companies’ use of name-only matching violates the FCRA; users are strictly liable for permissible use violations; and state law can limit when medical debt, evictions, rental arrears, and criminal records can first be reported.
Consumer Reporting
Congressional, First Circuit, CFPB, and VA Actions Affecting Fair Credit Reporting
A Congressional amendment, a First Circuit decision, two CFPB administrative issuances, a CFPB report, and a Veterans Administration rule all will have significant consequences for consumer reporting under the Fair Credit Reporting Act (FCRA). This article provides the highlights of these recent developments and their implications for consumers, advocates, and FCRA practitioners.
Implications of New CFPB Bulletin on Consumer Reporting of Renters
On July 1, 2021, the Consumer Financial Protection Bureau (CFPB) issued an Enforcement Compliance Bulletin (hereafter Rental Reporting Bulletin) on consumer reporting issues involving tenant screening reports as well as the reporting of rental information on credit reports. This article outlines key aspects of this “Rental Reporting Bulletin,” highlights the most important implications for...