FHFA: Federal Housing Administration Joins Fannie and Freddie in Implementing VantageScore 4.0 and FICO 10T Credit Scores
Homebuying Advances into New Era of Credit Score Competition Today the U.S. government is ushering in a new era of competition in our nation’s mortgage market. In a joint announcement, HUD Secretary Scott Turner and FHFA Director William J. Pulte announced that the Federal Housing Administration and Fannie Mae and Freddie Mac are implementing their first…
ABA: ABA Offers Congressional Testimony on Credit Reporting and Access to Credit
The Fair Credit Reporting Act (FCRA) is a critical consumer protection law that supports responsible lending, and policymakers should avoid changes that could restrict credit availability by reducing data accuracy or adding complexity, the American Bankers Association testified before the House Financial Services Subcommittee on Financial Institutions today. Veneshia Ferdinand, assistant vice president and director…
ABA: Foundation, Working Credit & Wells Fargo Foundation Launch New Credit Education Campaign
The ABA Foundation today announced the launch of its Rebuild Right: Safe Credit Recovery & Responsible Debt Solutions campaign, a new national initiative designed to empower consumers to rebuild credit responsibly and avoid harmful financial pitfalls. The campaign, which will begin March 4 in recognition of National Consumer Protection Week, is hosted in collaboration with the Wells…
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….
CFPB: List of Consumer Reporting Companies Updated
2025 report tells consumers how to get a security freeze and block access to their credit reporting data 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 sell access to people’s data, including individuals’ finances, employment, check writing…
CFPB: Rule Finalized to Remove Medical Bills from Credit Reports
Final rule will remove billions of dollars of medical bills from credit reports and end coercive debt collection practices that weaponize the credit reporting system Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will remove an estimated $49 billion in medical bills from the credit reports of about 15 million Americans. The CFPB’s action…
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…