Holding Credit Reporting Companies Accountable for Junk Data
Including junk data and mistakes on people's credit reports is against the law.
Blog
What we're learning: Medical debt's impact on Alaska Native communities
There is a disproportionate impact of medical debt on American Indian and Alaska Native consumers, in Alaska and across the United States.
Credit card delinquencies are higher than in 2019 because lenders took on more risk
Credit card delinquencies increased rapidly since 2021 and are higher than in 2019. We show this increase is explained by lenders effectively loosening lending standards.
Consumer reporting companies have an obligation to correct errors
The CFPB and FTC filed an amicus brief to help ensure that consumer reporting companies investigate consumer disputes.
Compañías de informes de crédito deben corregir errores
Hemos introducido junto a la FTC un escrito amicus curiae para asegurarnos de que las compañías de informes del consumidor investiguen las disputas hechas por los consumidores.
Servicemembers continue to face major financial challenges
The CFPB works to protect servicemembers in the financial market, engage military stakeholders, and monitor the market to identify risks to servicemembers, veterans, and military families.
The law requires companies to delete disputed unverified information from consumer reports
When a company that provided disputed information to a credit reporting agency is unable to determine whether the information is true or not, the law requires the company to tell the agency the information couldn’t be verified and to stop providing that information going forward.
What we’re hearing from consumers in New Mexico
New Mexicans submitted complaints about credit reporting, debt collection, and other products.
Qué nos dicen los consumidores de New Mexico
La gente de New Mexico nos envió quejas sobre informes de crédito, el cobro de deudas y otros productos.
Looking at credit scores only tells part of the story – cashflow data may tell another part
Cashflow data (regular savings, accumulated savings, paying bills on time) helps predict ability to repay and repayment risk, even when accounting for credit scores.
Office of Research blog: Initial Fresh Start program changes followed by increased credit scores for affected student loan borrowers
Credit reporting changes through the Department of Education’s Fresh Start program coincided with increased credit scores for nearly 2 million student loan borrowers.
Extendemos la fecha tope para recibir comentarios sobre los corredores de datos
Lanzamos una averiguación sobre las compañías que rastrean y recogen información sobre la vida personal de la gente.
We are extending the deadline for comments about data brokers
The CFPB launched an inquiry into companies that track and collect information on people’s personal lives.
Have medical debt? Anything already paid or under $500 should no longer be on your credit report
The nationwide credit reporting companies have removed medical collections already paid, under $500 or less than a year old from consumer credit reports. Have medical debt? Here’s what you should know.
¿Tiene deudas médicas? Ninguna que haya pagado o que sea menos de $500, debería aparecer en su informe de crédito
Las compañías nacionales de informes de crédito removieron cobranzas médicas ya pagadas, menores de $500 y con menos de un año de antigüedad de los informes de crédito de los consumidores. ¿Tiene deuda médica? Le mostramos qué debe saber.
Credit reporting companies should do more to ensure that servicemembers receive the free credit monitoring services they are legally entitled to
Active duty and National guard members are entitled to free electronic credit monitoring.
Tell us your experiences with data brokers
The CFPB launched an inquiry into companies that track and collect information on people’s personal lives.
Tell us about your experiences with rental background checks and fees
The CFPB and the FTC want to hear about challenges you’ve faced because of rental background checks.
Opine acerca de sus experiencias con las revisiones de antecedentes a inquilinos y sus tarifas
La CFPB y la FTC quieren saber cuáles retos ha enfrentado por las revisiones de antecedentes de inquilinos.
Why the largest credit card companies are suppressing actual payment data on your credit report
Credit card companies are failing to report your actual payment data to the nationwide consumer reporting companies. The CFPB asked why, and this is what we learned.
Por qué las grandes compañías emisoras de tarjetas de crédito suprimen datos reales de pagos en su informe de crédito
Los emisores de tarjetas de crédito no están reportando sus datos de pagos a las empresas de informes de crédito. Preguntamos por qué, y esto descubrimos.
Debt collectors re-evaluate medical debt furnishing in light of data integrity issues
Debt collectors are moving away from furnishing medical debt, in part, due to data integrity challenges in medical debt collections.
Office of Research blog: Credit score transitions during the COVID-19 pandemic
Credit score tiers shifted upward during the pandemic, with more consumers transitioning from subprime to prime credit scores.
Furnishers have an obligation to investigate consumer disputes
The CFPB recently filed an amicus brief to ensure furnishers follow their obligation to investigate disputes that consumers submit to credit reporting companies.
New report explores the impact of credit card line decreases on consumers
Credit cards play a critical role for consumers. Lenders can cut card lines, and have done so especially during economic downturns. New CFPB research shows the impact line cuts have on consumers.