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.
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.
This is a 2014 CFPB consent order with a creditor involving various debt collection violations and furnishing information to CRAs that DriveTime had reasonable cause to believe was inaccurate, failed to correct or delete inaccurate information within a reasonable time after learning of the inaccuracies, and failed to establish and/or implement reasonable written policies and procedures regarding the “accuracy” and “integrity” of the information.
This is a 2014 CFPB consent order with a creditor involving failure to establish and/or implement reasonable written policies and procedures regarding the “accuracy” and “integrity” of the information that it furnishes to CRAs and its misrepresentation regarding the accuracy of the information it furnishes.
This is a 2015 CFPB consent order with a debt collection agency involving the failure to respond within 30 days to consumer disputes about the information the collector furnished to CRAs and failure to provide debt validation notices.
This is a 2018 CFPB compilation of contact information for CRAs. Including nationwide CRAs, employment screening and tenant screening CRAs. check and bank screening CRAs, insurance and medical CRAs, low income and subprime CRAs, and supplementary report, utilities, retail and gaming CRAs.
This is CFPB Bulletin 2012-09 (Nov 29, 2012) concerning the FCRA’s “streamlined process” requirement for consumers to obtain free annual reports from nationwide specialty consumer reporting agencies (NSCRAs), as required by the FCRA and Reg.
This CFPB Bulletin 2013-09 (Sept. 4, 2013) concerns the FCRA’s requirement that furnishers investigate disputes and review “all relevant” information provided by CRAs about the dispute. The CFPB expects furnishers to have reasonable systems and technology in place to receive and process notices of disputes and information regarding disputes, including relevant documentation, forwarded to them by CRAs.
This CFPB Bulletin 2014-01 (Feb. 27, 2014) concerns the FCRA’s requirement that furnishers conduct investigations of disputed information. The CFPB is concerned that a furnisher may respond to a consumer’s dispute, without conducting an investigation, simply direct the CRA to delete the item it has furnished.
This is a CFPB proposed rule defining larger participants in the market of consumer reporting. The Dodd-Frank Act grants the CFPB authority to supervise certain nonbank covered persons for compliance with federal consumer financial law and for other purposes. This includes CFPB authority to supervise nonbank ‘‘larger participant[s]’’ of markets for certain consumer financial products or services, as the CFPB defines by rule. An initial rule to define such larger participants must be issued by July 21, 2012.