CFPB: Analysis Published on Potential Impacts of Medical Debt Credit Reporting Changes

Removing Paid Collections Will Have Limited Benefit Across Consumer Groups 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 […]

CFPB: Advisory Issued to Protect Privacy When Companies Compile Personal Data

Advisory affirms that “permissible purposes” are required to use and share credit reports and background reports 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. […]

CFPB: Agency Affirms Ability for States to Police Credit Reporting Markets

The Fair Credit Reporting Act does not stop states from enacting laws to tackle credit reporting problems related to medical debt, tenant screening, and other consumer risks Today, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule affirming states’ abilities to protect their residents through their own fair credit […]

CFPB: New Final Rule Issued with Credit Reporting Protections to Aid Survivors of Human Trafficking

CFPB Helps Survivors Mitigate the Financial Consequences of Human Trafficking 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 […]

CFPB: New Report Highlights Experience of Military Families with Medical Billing, Credit Reporting, and Debt Collection

Servicemembers and veterans report problems with coercive credit reporting and false medical bill collections 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 […]

CFPB: Supervisory Report Finds Unlawful Auto Repossessions and Breakdowns in Credit Report Disputes

Agency examiners identify improper practices across consumer financial products and services 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. “While […]

CFPB: New Proposed Rule Seeks to Halt Negative Credit Reporting for Survivors of Human Trafficking

Proposed rule will aid survivors seeking to open bank accounts, access credit, and gain employment 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 […]

CFPB: Agency Estimates $88 Billion In Medical Bills on Credit Reports

Inaccurate medical billing data contaminates credit reporting system The Consumer Financial Protection Bureau (CFPB) today released a report highlighting the complicated and burdensome nature of the medical billing system in the United States. The report reveals that the U.S. healthcare system is supported by a billing, payments, collections, and credit […]

CFPB: Annual List of Consumer Reporting Companies Released

Updated list names financial surveillance companies that people can use to access their own files and sue if they violate the Fair Credit Reporting Act Today, the Consumer Financial Protection Bureau (CFPB) released its annual list of consumer reporting companies. The list identifies dozens of specialty reporting companies that collect and […]

CFPB: New Bulletin Issued to Prevent Unlawful Medical Debt Collection and Credit Reporting

New Law Limits Surprise Medical Bills The Consumer Financial Protection Bureau (CFPB) today released a bulletin reminding debt collectors and credit bureaus of their legal obligations in light of the No Surprises Act, which protects consumers from certain unexpected medical bills. Companies that try to collect on medical bills that […]