CFPB Updates List of Consumer Reporting Companies
Today, the Consumer Financial Protection Bureau (CFPB) released its annual list of consumer reporting companies.
Newsroom archive
CFPB Letter to Massachusetts State Legislature on Barring Medical Bills on Credit Reports
A letter written by Seth Frotman, CFPB General Counsel, to the Representative John J. Lawn, Jr. and the Senator John J. Cronin of the Massachusetts State Legislature.
CFPB Letter to South Dakota State Legislature on Barring Medical Bills on Credit Reports
A letter written by Seth Frotman, CFPB General Counsel, to Representative Brian Mulder of the South Dakota State Legislature.
CFPB Letter to Oregon State Legislature on Barring Medical Bills on Credit Reports
A letter written by Seth Frotman, CFPB General Counsel, to Senator Wlnsvey Campos and the Representative Nathan Sosa of the Oregon State Legislature.
CFPB Letter to Washington State Legislature on Barring Medical Bills on Credit Reports
A letter written by Seth Frotman, CFPB General Counsel, to Senator Marcus Riccelli and Representative Joe Timmons of the Washington State Legislature.
CFPB Report Finds Cash-Out Mortgage Refinance Borrowers Improve Credit Scores
Today, the Consumer Financial Protection Bureau (CFPB) published a report about financial outcomes for cash-out refinance mortgage borrowers.
CFPB Orders Equifax to Pay $15 Million for Improper Investigations of Credit Reporting Errors
The CFPB took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct proper investigations of consumer disputes.
CFPB Orders Honda’s Auto Financing Arm to Pay $12.8 Million for COVID-19 and Other Credit Reporting Failures
The CFPB ordered the American Honda Finance Corporation to pay $12.8 million for reporting inaccurate information that affected the credit reports of 300,000 people.
CFPB Research Reveals Heavy Buy Now, Pay Later Use Among Borrowers with High Credit Balances and Multiple Pay-in-Four Loans
The CFPB released a study finding one fifth of consumers used Buy Now, Pay Later (BNPL) loans in 2022, and many held simultaneous loans from multiple lenders.
CFPB Sues Experian for Sham Investigations of Credit Report Errors
The CFPB sued Experian, the nationwide consumer reporting agency, for unlawfully failing to properly investigate consumer disputes.
CFPB Finalizes Rule to Remove Medical Bills from Credit Reports
Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule to ban the inclusion of medical bills on credit reports used by lenders and prohibit lenders from using medical information in their lending decisions.
CFPB Announces Return of $1.8 Billion in Illegal Junk Fees to 4.3 Million Americans Harmed in Massive Credit Repair Scheme
The CFPB is distributing $1.8 billion to 4.3 million consumers charged illegal junk fees by credit repair companies including Lexington Law and CreditRepair.com.
Prepared Remarks of CFPB Director Rohit Chopra at the FinRegLab AI Conference
Director Chopra delivered remarks at the 2024 FinRegLab AI Symposium.
CFPB Takes Action to Curb Unchecked Worker Surveillance
The Consumer Financial Protection Bureau (CFPB) issued guidance to protect workers from unchecked digital tracking and opaque decision-making systems.
Prepared Remarks of CFPB Director Rohit Chopra at the Joint Field Hearing with the Department of Labor on Worker Tracking
Director Chopra delivered remarks at the Joint Field Hearing with the Department of Labor on Worker Tracking in Michigan.
CFPB Takes Action Against Wrongful Auto Repossessions and Loan Servicing Breakdowns
The CFPB published a new edition of Supervisory Highlights describing the agency’s supervisory findings related to illegal practices in auto finance, including lenders repossessing consumers’ cars after the borrower made timely payments or received loan extensions.
Prepared Opening Remarks of CFPB Director Rohit Chopra at the Aspen Institute on Abuse and Misuse of Our Personal Data
CFPB Director Rohit Chopra provided opening remarks at the 2024 Aspen Institute Cyber Summit.
CFPB Bans Navient from Federal Student Loan Servicing and Orders the Company to Pay $120 Million for Wide-Ranging Student Lending Failures
Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed order against the student loan servicer Navient for its years of failures and lawbreaking.
Prepared Remarks of CFPB Director Rohit Chopra on the Navient Enforcement Action Press Call
Director Chopra delivered remarks on the CFPB’s enforcement action against Navient.
CFPB Orders TD Bank to Pay $28 Million for Breakdowns that Illegally Tarnished Consumer Credit Reports
The CFPB ordered TD Bank to pay $7.76 million to tens of thousands of victims because of the bank’s illegal actions.
Prepared Remarks of CFPB Director Rohit Chopra at the National Housing Conference
Director Chopra delivered remarks on streamlining the refinancing process.
CFPB Report Highlights Consumer Protection Issues in Medical and Rental Debt Collection
The CFPB today issued its annual report on debt collection, which highlights aggressive and illegal practices in the collection of medical debt and rental debt.
CFPB Sues Rent-a-Center Affiliate Acima and Acima’s Founder Aaron Allred for Illegal Lending Practices
The CFPB sued a group of companies known as Acima for illegal lending activities in connection with as many as five million consumer financing agreements.
CFPB Proposes to Ban Medical Bills from Credit Reports
Today, the CFPB proposed a rule that would remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from using the credit reporting system to coerce people to pay.
Prepared Remarks of CFPB Director Rohit Chopra on the Proposed Ban of Medical Bills on Credit Reports
Research from the Consumer Financial Protection Bureau in 2022 showed that medical collections tradelines appeared on 43 million credit reports, and that 58 percent of bills that were in collections and on people’s credit records were medical bills.
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