CFPB Orders Equifax to Pay $15 Million for Improper …
Jan 17, 2025 · News Back Press Releases Speeches & Op-eds ... The Fair Credit Reporting Act (FCRA) requires consumer reporting agencies to investigate the accuracy of disputed information and take steps to ensure consumers’ credit reports are accurate. ... Follow federal law on handling credit reporting data: Equifax must bring its dispute resolution ...
CFPB Finalizes Rule to Remove Medical Bills from Credit Reports
Jan 7, 2025 · Previously, the CFPB published in 2022 a report describing the extensive and debilitating effects of medical debt along with a bulletin on the No Surprises Act to remind credit reporting companies and debt collectors of their legal responsibilities under that legislation. The rule will be effective 60 days after publication in the Federal Register.
CFPB Sues Experian for Sham Investigations of Credit Report Errors
Jan 7, 2025 · The Fair Credit Reporting Act (FCRA) requires that consumer reporting agencies take steps to ensure consumer reports are accurate and to conduct investigations of information disputed by consumers. The FCRA provides people multiple ways to dispute inaccurate information on their consumer reports, including by contacting consumer reporting ...
Credit Reporting - Federal Trade Commission
Oct 31, 2018 · The Fair Credit Reporting Act promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies (CRAs). To ensure compliance, the agency pursues an aggressive enforcement program aimed at the main players in the consumer reporting system – CRAs, those who send them information, and consumer report users.
Consumer Financial Protection Bureau Releases Proposed Rule on Fair …
On December 3, 2024, the U.S. Consumer Financial Protection Bureau (the CFPB) announced a notice of proposed rulemaking that seeks to significantly expand the scope of the Fair Credit Reporting Act and its implementing regulation, Regulation V (collectively, the FCRA), and to impose new requirements on covered parties, such as data brokers (the ...
FTC Approves Changes to Five FCRA Rules - Federal Trade Commission
Sep 8, 2021 · The Federal Trade Commission approved final revisions that would bring several rules that implement parts of the Fair Credit Reporting Act (FCRA) in line with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
CFPB Proposes To Expand Fair Credit Reporting Act …
On December 13, 2024, the Consumer Financial Protection Bureau (CFPB) published in the Federal Register a proposed rule that would revise Regulation V, 1 the CFPB's regulation implementing the Fair Credit Reporting Act (FCRA). The proposed rule would impose new limitations and obligations for many entities that collect, aggregate, sell, resell, license, enable the use of, or otherwise share ...
US Supreme Court rules that federal government can be liable under Fair ...
Feb 9, 2024 · In a unanimous slip opinion, the US Supreme Court ruled on Thursday that the Fair Credit Reporting Act (FCRA) waives sovereign immunity and that the federal government can be liable for incorrect debt reporting that damages credit scores.
Justices take up Fair Credit Reporting Act case - SCOTUSblog
Jun 20, 2023 · Kirtz went to federal court in 2020, alleging that USDA had violated the Fair Credit Reporting Act, which (among other things) requires anyone who provides disputed information to credit reporting agencies like Trans Union to investigate it and, if necessary, correct it.
CFPB Orders Credit Reporting Agency to Pay $15 Million for …
Jan 18, 2025 · The CFPB has issued a $15 million penalty against a credit reporting agency for failing to investigate consumer disputes under the Fair Credit Reporting Act (FCRA)