CFPB: Annual Report of Consumer and Credit Reporting Complaints Issued
An analysis of complaint responses by Equifax, Experian, TransUnion Pursuant to Section 611(e)(5) of the Fair Credit Reporting Act (FCRA), this report summarizes information gathered by the Consumer Financial Protection Bureau (CFPB) regarding certain consumer complaints transmitted by the CFPB to Equifax, Experian, and TransUnion. FULL REPORT Read the full report
CFPB: ANPR Issued to Define Larger Participants of the Consumer Reporting Market
The Consumer Financial Protection Bureau (CFPB) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the consumer reporting market established by the Bureau’s Defining Larger Participants of the Consumer Reporting Market Final Rule published on July 20, 2012 (Consumer Reporting Larger Participant…
ABA: ABA Foundation and FICO Announce New Partnership Ahead of 2025 Get Smart About Credit Day
The American Bankers Association Foundation, in partnership with analytics software leader FICO and bankers across the country, will celebrate the 2025 Get Smart About Credit Day next week on Thursday, Oct. 16. Get Smart About Credit, now in its 23rd year, is a year-round campaign that kicks off annually on the third Thursday of October….
Census Bureau: New Credit Access and Opportunity Data Released
The U.S. Census Bureau and Opportunity Insights (a nonpartisan, nonprofit organization based at Harvard University) today released new data including credit scores, delinquency rates, credit card balances, and mortgage and student loan balances by county, race and class (parental income) for children born between 1978 and 1985. Users can explore the data on the interactive Opportunity…
CFPB: Report Finds Cash-Out Mortgage Refinance Borrowers Improve Credit Scores
Cash-out borrowers paid down credit card debt and auto loans Today, the Consumer Financial Protection Bureau (CFPB) published a report about financial outcomes for cash-out refinance mortgage borrowers. Cash-out borrowers had an initial sharp improvement in credit scores, followed by a gradually worsening of their scores. Scores in general, however, stayed above their pre-refinance levels….
CFPB: New Study Reveals Heavy Buy Now, Pay Later Use Among Borrowers with High Credit Balances and Multiple Pay-in-Four Loans
More than 60 percent of users had simultaneous loans, borrowers held higher balances on other credit lines, and most loans went to consumers with subprime or lower credit scores Today, the Consumer Financial Protection Bureau (CFPB) released a study of Buy Now, Pay Later (BNPL) borrowers, finding that more than one-fifth of consumers with a…
CFPB: Agency Kicks Off Rulemaking to Help Mitigate the Financial Consequences of Domestic Violence and Elder Abuse
Survivors of abuse financially suffer when their credit reports contain loans and accounts that they were forced into The Consumer Financial Protection Bureau (CFPB) launched a rulemaking to address the harmful effects of inaccurate credit reporting affecting survivors of domestic violence, elder abuse, and other forms of financial abuse. The agency is issuing an advance notice of…
ABA: Bank Employees Across U.S. Celebrate 21st Annual Get Smart About Credit Day
Bank employees across the country will celebrate the American Bankers Association Foundation’s Get Smart About Credit campaign today and throughout the year by educating teens and young adults about a range of personal finance topics. Get Smart About Credit Day, celebrated annually on the third Thursday of October, is one of three ABA Foundation youth financial education…
CFPB: Rule Proposed to Ban Medical Bills from Credit Reports
Rule would remove as much as $49 billion of medical debts that unjustly lowers credit scores for 15 million Americans The Consumer Financial Protection Bureau (CFPB) today 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…
CFPB: New Analysis Finds 15 Million Americans Have Medical Bills on Their Credit Reports
People living in the South continue to be most likely to have medical bills on their reports The Consumer Financial Protection Bureau (CFPB) today released research showing that 15 million Americans still have medical bills on their credit reports despite changes by Equifax, Experian, and TransUnion. The 15 million Americans disproportionately live in the South and low-income…