On July 27, 2022, the Consumer Financial Protection Bureau (CFPB) provided additional Reg F guidance as a series of Frequently Asked Questions (FAQs) sorted by topic. The FAQs cover the following subjects:
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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 to remedy harmful inaccuracy issues that persisted for several years[1]. The CFPB had previously issued a penalty of nearly $2 million against a debt collector that also allegedly failed to report accurate consumer information to the credit reporting agencies[2]. These two actions by the CFPB that resulted in millions of dollars in penalties provide specific guidance on steps that every company reporting consumer information to the credit reporting agencies must take to avoid violations of the law.
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DULUTH, GA - Crown Asset Management, LLC, a receivables management and purchasing firm near Atlanta, took some time out this summer for a company picnic and service awards ceremony to celebrate the talent and tenure of numerous dedicated employees. The team continues to show up and step up every day to help grow the business and enhance the culture with professionalism and can-do attitudes.
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