The Consumer Financial Protection Bureau (CFPB) is looking to improve “competition, choice and affordability” in credit reporting costs and other mortgage closing costs. In prepared remarks for a speech at a Mortgage Bankers Association conference, CFPB Director Rohit Chopra said Monday (May 20) that the agency is doing so at a time when mortgage lenders...
The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) have taken enforcement actions against consumer reporting company TransUnion, alleging multiple violations of the Fair Credit Reporting Act. The actions focus on TransUnion’s rental screening subsidiary, TransUnion Rental Screening Solutions, which the regulators said failed to ensure the...
When a credit report says that a child has a mortgage or that someone incurred a debt years before they were born, that’s obviously false “junk data,” according to the Consumer Financial Protection Bureau (CFPB). What’s more, consumer reporting companies have an obligation to screen...
Netflix customers can now see their on-time Netflix payments reflected on Experian, the Dublin-based multinational consumer credit reporting company, CNBC reported. Starting Monday (July 27) consumers can include Netflix payment history on their Experian Boost accounts which can improve their credit scores. “We know consumers...
February 27, 2019
Lawmakers grilled the heads of Equifax, Experian and TransUnion, calling the credit reporting a “broken” system — and new legislation introduced this week has some far-reaching changes. In the meantime, the CEOs said, proactive measures to address shortcomings — not just breaches — are in the works. One strategy: Expand credit access by expanding data collected and used beyond traditional scoring methods.
May 20, 2024
The Consumer Financial Protection Bureau (CFPB) is looking to improve “competition, choice and affordability” in credit reporting costs and other mortgage closing costs. In prepared remarks for a speech at a Mortgage Bankers Association conference, CFPB Director Rohit Chopra said Monday (May 20) that the agency is doing so at a time when mortgage lenders have told it that costs for credit reports and scores […]
October 12, 2023
The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) have taken enforcement actions against consumer reporting company TransUnion, alleging multiple violations of the Fair Credit Reporting Act. The actions focus on TransUnion’s...
October 20, 2022
When a credit report says that a child has a mortgage or that someone incurred a debt years before they were born, that’s obviously false “junk data,” according to the...
July 27, 2020
Netflix customers can now see their on-time Netflix payments reflected on Experian, the Dublin-based multinational consumer credit reporting company, CNBC reported. Starting Monday (July 27) consumers can include Netflix payment...
