FCRA Archives - Page 5 of 32

February 15, 2023 by Michelle Macartney in FCRA

Is Your Credit Dispute Management Process Good Enough?

An airtight credit dispute management process is key to avoiding scrutiny and hefty fines from the CFPB, but that’s not the only reason it’s critical.“[A]ccurate data is at the heart...

tumsasedgars / Adobestock

February 13, 2023 by Daniel Miller in Disputes

2nd Cir. Holds FCRA Does Not Apply to Inaccuracies Involving Legal Disputes

The U.S. Court of Appeals for the Second Circuit recently affirmed a trial court’s order granting summary judgment in favor of a credit reporting agency and ruled that reporting a...

January 10, 2023 by Michael Gordon in CFPB

CFPB Adds Six New Items to Fall 2022 Rulemaking Agenda, Including Overdraft Fees, Fees for Insufficient Funds, and Credit Card Penalty Fees

The CFPB has published its Fall 2022 rulemaking agenda as part of the Fall 2022 Unified Agenda of Federal Regulatory and Deregulatory Actions. The agenda’s preamble indicates that “[t]he Bureau...

November 29, 2022 by Stefanie H Jackman in Auto Finance Receivables

CFPB Focuses on Junk Fees, Credit Reporting, and COVID-19 Relief Funds in Latest Supervisory Highlights

On November 16, 2023, the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report, focusing on the auto servicing industry, consumer reporting, mortgage servicing, and COVID-19 relief funds....

November 3, 2022 by Missy Meggison in Compliance

Defeating Credit Repair Organizations - Recent Win in FL Case Highlights Successful Strategies

In a clear rebuke of a credit repair organization’s tactics, a judge in the Middle District of Florida said the Fair Debt Collection Practices Act (“FDCPA”) cannot be weaponized against...

November 2, 2022 by Stefanie H Jackman in CFPB

CFPB Issues Advisory Opinion to Consumer Reporting Agencies to Remove “Facially False Data” to Maintain FCRA Compliance

Pursuant to its authority under Section 1022(b)(1) of the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to consumer reporting agencies (CRAs), highlighting their obligation to...

October 14, 2022 by Erin Kerr in CFPB

3 Ways to Prepare for Ramped-up FCRA Scrutiny

It’s clear: the CFPB is using the FCRA to advance its agenda. The Bureau wants to create a consumer-friendly credit reporting precedent and it is using FCRA-related lawsuits and enforcement...

August 1, 2022 by John Rossman in Auto Finance Receivables

CFPB Issues Record $19 Million Penalty for Credit Reporting Violations: Three Steps Your Company Must Take to Comply with the Law

On July 26, 2022, the CFPB issued a record penalty of more than $19 million against a creditor/furnisher of consumer information to the credit bureaus, alleging that the creditor failed...

July 27, 2022 by Missy Meggison in CFPB

CFPB Encourages States to Police Credit Reporting; Targets Medical Debt, Tenant Screenings

In case you missed it, in a June 28, 2022, press release, the Consumer Financial Protection Bureau (CFPB) announced it issued an interpretive rule (Rule) clarifying that states can police...

July 26, 2022 by Andrew Hopkins in Collection Strategy

Where Proficiency Meets Efficiency: Credit Bureau Disputes Case Management Systems

Dispute volumes continue to exhaust dispute processing operations. Even highly proficient teams can be more efficient with a Disputes Case Management System (DCMS). Read on for the top four advantages...

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