Tag Archives: Fair Credit Reporting Act (FCRA)

By issuing a new request for information, the Bureau is studying the business practices of data brokers, their impact on the daily lives of consumers, and whether they are all playing by the same rules.

The new proposed rule would require nonbank financial companies to register their use of contract terms and fine print that seek to waive or limit consumer rights and legal protections.

In the Bureau’s Fall 2022 report, some mortgage servicers were cited for violations of federal law by charging sizable phone payment fees and for charging consumers fees while they were in CARES Act forbearances.

New guidance from the Bureau affirms that “permissible purposes” are required to use and share credit reports and background reports by companies compiling personal data.

In a new bulletin, the Bureau furthers its ongoing commitment to a fair and equitable recovery for renters as pandemic-related protections come to an end.

A Congressional hearing will feature panelists discussing the consumer credit reporting system, looking back at its history, and detailing three proposals to overhaul this system to provide credit equity for all.