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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 credit reporting markets. Within the Rule, the CFPB specifically encouraged states to target medical debt and tenant screenings.

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New: Updated Credit Industry Trends at-a-Glance

New from TransUnion - the Q2 Monthly Credit Industry Snapshot breaks down key credit metrics and explains how the pandemic, inflation and overseas conflict have affected consumer credit.

 

This report includes:

  • Key credit metrics for credit card, auto finance, mortgage and unsecured personal loans

  • The status of accounts in hardship for each line of business by risk tier

  • Trends regarding average loan amounts, bankcard balances, delinquency rates

  • Macroeconomic indicators on the current economic environment for the consumer market


Get the free report here.
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insideARM is grateful to our 2022 Strategic Supporters:

NCB Crown Asset Management Spring Oaks Capital TransUnion Provana

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 of migrating to a DCMS.

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CFPB Issues Advisory Opinion on FCRA Permissible Purpose Requirement

In a new advisory opinion, the CFPB addresses the Fair Credit Reporting Act’s permissible purpose requirement as it applies to both consumer reporting agencies and users of consumer reports.

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California Requests Feedback on Proposed Debt Collection Regulations Impacting Licensing, Reporting, and Records

On July 15, the California Department of Financial Protection and Innovation (DFPI) issued an invitation for comments on proposed additions to regulations implementing the Debt Collection Licensing Act (DCLA). According to the invitation, the new provisions pertain “to the scope, annual report, and document retention requirements of the DCLA.” For example, the proposed regulations define “original creditors” and propose to generally exclude them from licensure unless one or more of the following benchmarks applies:

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ACA International Elects New Officers and Board Members for 2022-2023

ORLANDO, Fl --During ACA International’s 2022 Convention & Expo in Orlando, the Council of Delegates elected four board members to serve three-year terms and one board member to serve a two-year term on the ACA Board of Directors. The ACA Board of Directors also elected a slate of new officers for the 2022/2023 term.

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Hunstein Copycat Suit Fails Where Data Sent to Vendor is Secure

The line of cases known as "Hunstein Copycats" continues to develop through the court systems. Unlike the last case to make headlines, the most recent result is positive for the ARM industry.

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WCF 2022

5 December 2022 at 08:00 a.m.

Sharpen your leadership skills, expand your professional network and help improve your workplace culture when you attend Women in Consumer Finance 2022, December 5-7, 2022 at the Renaissance Esmeralda in Palm Springs. 

Registration is now open!

Event Details »