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CFPB Proposes New Rules That, If Finalized, Would Significantly Expand FCRA’s Reach

On December 3, 2024, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking (NPR) – Protecting Americans from Harmful Data Broker Practices. The CFPB’s proposal would amend Regulation V, which...more

CFPB Proposes Rule Removing Medical Bills From Credit Reports

On June 11, 2024, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule that would generally prohibit lenders from considering medical debt information when determining a consumer’s eligibility for credit,...more

CFPB Reiterates Obligations of Credit Bureaus, Furnishers Under FCRA’s Dispute Provisions

On November 10, 2022, the Consumer Financial Protection Bureau (CFPB) issued Circular 2022-07, affirming the duty of consumer reporting agencies (CRAs) and furnishers to conduct reasonable investigations of consumer disputes...more

CFPB Tightens Obligations of Credit Bureaus, Users Under FCRA’s ‘Permissible Purpose’ Provisions

On July 7, 2022, the Consumer Financial Protection Bureau issued an advisory opinion interpreting the “permissible purpose” provisions of the Fair Credit Reporting Act (FCRA). The advisory opinion states that consumer...more

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