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Consumer Reporting Agencies Regulatory Agenda Fair Credit Reporting Act (FCRA)

Ballard Spahr LLP

House Financial Services Committee approves ‘trigger leads’ bill

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The House Financial Services Committee has approved a bill that would restrict the use of “trigger leads” in the mortgage industry. ...more

Ballard Spahr LLP

Legislation to prohibit ‘trigger leads’ in mortgage industry reintroduced in House, Senate

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Legislation to prohibit so-called “trigger leads” in the homebuying process once again has been reintroduced in the House and Senate....more

Mayer Brown

CFPB Releases Long-Awaited Proposed Amendments to Regulation V to Regulate Data Brokers

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On December 3, 2024, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) issued a proposed rule (the “Proposed Rule”) to amend Regulation V, which implements the Fair Credit Reporting Act (FCRA). The Proposed...more

Ballard Spahr LLP

CFPB plans to issue proposed rule mitigating the financial consequences to abuse survivors

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The CFPB intends to issue a proposed rule to address the impact of credit reporting relating to accounts of survivors of domestic violence, elder abuse, and other forms of financial abuse....more

Troutman Pepper Locke

CFPB Initiates FCRA Rulemaking to Address Coerced Debt

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On December 9, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the launch of a rulemaking process addressing credit reporting on survivors of domestic violence, elder abuse, and other forms of financial...more

Ballard Spahr LLP

CFPB proposes FCRA rule with potential implications far beyond the stated focus on data brokers

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The CFPB has proposed a rule that it promotes as ensuring that Fair Credit Reporting Act (FCRA) protections are applied to sensitive consumer information that the statute was designed to protect, including information sold by...more

Ballard Spahr LLP

CFPB Proposes Broad New Data Broker Rule That Would Greatly Expand the FCRA

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On December 3, 2024, the Consumer Financial Protection Bureau (CFPB) published its long anticipated proposed rule aimed at regulating data brokers under the Fair Credit Reporting Act (FCRA).  Although the CFPB’s future is...more

Ballard Spahr LLP

CFPB issues proposal to prohibit use of medical debt information in credit decisions

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The steady drumbeat of steps during Rohit Chopra’s tenure as CFPB Director to call into question the reliability and predictability of medical debt information in credit underwriting reached a crescendo last week with the...more

Troutman Pepper Locke

CFPB Proposed Rule Banning Reporting of Medical Debt

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On June 11, the Consumer Financial Protection Bureau (CFPB or Bureau) released a proposed rule amending Regulation V, which implements the Fair Credit Reporting Act (FCRA), concerning medical debt. The proposed rule would...more

Troutman Pepper Locke

Kentucky Introduces Legislation Requiring CRAs to Obtain Express Consumer Consent Prior to Furnishing a Consumer Report or Credit...

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On February 16, Kentucky state representative Steve Bratcher (R) introduced House Bill (HB) 578. The bill seeks to create a new section of the Kentucky Consumer Protection Act that would restrict how consumer reporting...more

Ballard Spahr LLP

Bills To Curtail Trigger Leads Introduced in Congress

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Bills have been introduced in the U.S. House of Representatives (H.R. 4198) and the U.S. Senate (S. 3502) to amend the Fair Credit Reporting Act (FCRA) to curtail the practice of trigger leads with mortgage loans....more

Ballard Spahr LLP

CFPB Launches FCRA Rulemaking to Eliminate Creditor Use of Medical Debt

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On September 21, 2023, with limited time to digest the comments received by September 11, 2023 from the request for information regarding medical payment products, the Consumer Financial Protection Bureau (CFPB) started the...more

Troutman Pepper Locke

CFPB Outlines Rulemaking Plan to Dramatically Alter Decades of FCRA Requirements for Everyone in the Consumer Data Ecosystem

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The Consumer Financial Protection Bureau (CFPB) has started the process of issuing rules on several topics affecting the entire ecosystem that collects, sells, and uses data about consumers, according to an Outline of the...more

Troutman Pepper Locke

CFPB's Rulemaking Under the FCRA (Part 3) – Crossover Episode With FCRA Focus Podcast

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Join us for the third episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more

Orrick, Herrington & Sutcliffe LLP

CFPB receives FCRA rulemaking petition on debt collection

On March 3, the CFPB received a rulemaking petition from the National Consumer Law Center (NCLC) in response to forthcoming FCRA rulemaking announced in the Bureau’s Fall 2022 regulatory agenda. As previously covered by...more

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