Today, the Consumer Financial Protection Bureau (CFPB) published an analysis of how actions announced by the three largest national consumer reporting companies – Experian, Equifax, and TransUnion -- will affect people who have allegedly unpaid medical debt on their credit reports.
Today, the Consumer Financial Protection Bureau (CFPB) penalized Hyundai Capital America (Hyundai) for repeatedly providing inaccurate information to nationwide consumer reporting companies and failing to take proper measures to address inaccurate information once it was identified between 2016 and 2020.
Today, the Consumer Financial Protection Bureau (CFPB) issued a legal interpretation to ensure that companies that use and share credit reports and background reports have a permissible purpose under the Fair Credit Reporting Act.
Today, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule affirming states’ abilities to protect their residents through their own fair credit reporting laws.
Today, the Consumer Financial Protection Bureau (CFPB) issued a final rule to help survivors avoid some of the financial consequences of human trafficking. The CFPB has established, among other things, a method for survivors of trafficking to submit documentation to credit reporting companies that identifies any adverse item of information that resulted from human trafficking. The rule prohibits credit reporting companies from providing a report containing the adverse items of information.
Deputy Director Zixta Martinez’s Keynote Address at the Consumer Federation of America’s 2022 Consumer Assembly
Deputy Director Martinez delivered keynote remarks at the 2022 Consumer Assembly on June 15, 2022.
CFPB Report Highlights Experiences of Military Families with Medical Billing, Credit Reporting, and Debt Collection
Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on the top financial concerns facing servicemembers, veterans, and military families, based on the complaints they submitted to the CFPB. Servicemembers told the CFPB about billing inaccuracies and that debt collectors used aggressive tactics to recover allegedly unpaid medical bills.
Today the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report on legal violations identified during the CFPB’s supervisory examinations in the second half of 2021. The report details key findings across consumer financial products and services.
A report issued today by the Consumer Financial Protection Bureau (CFPB) examines the financial consequences of medical billing and collections endured by individuals and families across the country. The report draws from the rising volume of medical billing and collection complaints submitted to the CFPB.
Director Chopra’s Prepared Remarks on the Repeat Offender Lawsuit Against TransUnion and John Danaher
Today, the Consumer Financial Protection Bureau (CFPB) has filed a major lawsuit against repeat offender TransUnion, two of its subsidiaries, and a longtime executive, John T. Danaher, for violating a 2017 law enforcement order.
Today, the Consumer Financial Protection Bureau (CFPB) is using its rulemaking authority to propose that consumer reporting agencies (CRAs) do not prevent survivors of human trafficking from achieving financial independence. The proposed rule would protect survivors of human trafficking by preventing CRAs from including negative information resulting from abuse. Congress required the CFPB to issue rules as part of the recently-enacted Debt Bondage Repair Act.
Director Chopra remarks at the April 6, 2022 CAB meeting.
CFPB Releases Report Detailing Consumer Complaint Response Deficiencies of the Big Three Credit Bureaus
A new analysis by the Consumer Financial Protection Bureau (CFPB) reveals how changes in complaint responses provided by nationwide consumer reporting companies resulted in fewer meaningful responses and less consumer relief. In 2021, Equifax, Experian, and TransUnion together reported relief in response to less than 2% of covered complaints, down from nearly 25% of covered complaints in 2019.
The Consumer Financial Protection Bureau (CFPB) today released research finding that consumers in majority Black and Hispanic neighborhoods, as well as younger consumers and those with low credit scores, are far more likely to have disputes appear on their credit reports.
CFPB, FTC and North Carolina Department of Justice File Amicus Brief in Henderson v. The Source for Public Data, L.P.
Today the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC) and North Carolina Department of Justice filed an amicus brief in support of the consumer plaintiffs in Henderson v. The Source for Public Data, L.P.
Consumer Financial Protection Bureau Announces Settlement with Debt Collector for Credit Reporting Violation
On November 12, 2020, the Consumer Financial Protection Bureau announced a settlement with Afni, Inc. to address its violations in providing information to consumer reporting agencies (CRAs).
The Consumer Financial Protection Bureau released a report indicating that a credit builder loan could increase the likelihood of establishing a credit record for consumers without one, and could help improve the credit scores of those with no current outstanding debt.
Consumer Financial Protection Bureau and Commonwealth of Massachusetts File Suit Against Credit-Repair Telemarketers
The Consumer Financial Protection Bureau and Commonwealth of Massachusetts Attorney General Maura Healey today jointly filed a lawsuit against Commonwealth Equity Group, LLC, which does business as Key Credit Repair, and Nikitas Tsoukales (also known as Nikitas Tsoukalis), Key Credit Repair’s president and owner.
Consumer Financial Protection Bureau Settles with Monster Loans, Thomas Chou, Sean Cowell, and Related Companies
On May 14, 2020, the Bureau, and Chou Team Realty, LLC, Thomas Chou, TDK Enterprises, LLC, Cre8labs, Inc., and Sean Cowell moved for entry of a stipulated final judgment.
Consumer Financial Protection Bureau Report Shows Substantial Decline in Credit Applications in March
A Consumer Financial Protection Bureau report examining the effects of the COVID-19 pandemic found that consumer credit applications declined substantially in March.
The Consumer Financial Protection Bureau released a policy statement outlining the responsibility of credit reporting companies and furnishers during the COVID-19 pandemic.
Consumer Financial Protection Bureau Announces Action Against Monster Loans, Lend Tech Loans, and Student-Loan Debt-Relief Companies
The Consumer Financial Protection Bureau (Bureau) filed suit against several companies and individuals involved in offering student loan debt-relief services for allegedly obtaining consumer reports illegally, charging unlawful advance fees, and engaging in deceptive conduct.
The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission will host a public workshop on December 10, 2019 to discuss issues affecting the accuracy of both traditional credit reports and employment and tenant background screening reports.
Thank you for joining us. Today’s global settlement is the result of a strong partnership between the Bureau, the Federal Trade Commission, and the states.
The Consumer Financial Protection Bureau (Bureau), the Federal Trade Commission (FTC), and 48 states, the District of Columbia and Puerto Rico announced a global settlement today with Equifax that would provide up to $700 million in monetary relief and penalties.