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Consumer Financial Protection Bureau (CFPB) Consumer Reports

Sheppard Mullin Richter & Hampton LLP

CFPB Warns Employers Regarding FCRA Rules for AI-Driven Worker Surveillance

On October 24, the CFPB issued Circular 2024-06, which warns companies using third-party consumer reports, particularly surveillance-based “black box” or AI algorithmic scores, that they must follow the Fair Credit Reporting...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 2, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...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

Ballard Spahr LLP

CFPB issues letters in support of Connecticut and California bills on medical debt reporting; Connecticut bill enacted

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The Consumer Financial Protection Bureau (CFPB) has issued two letters in support of state efforts to prohibit medical debt reporting. In March 2024, CFPB Director Rohit Chopra sent a letter to the California State Senate in...more

Troutman Pepper

Eleventh Circuit Declines to Issue Brightline Rule that Legal Disputes are Not Actionable Under FCRA Instead Finding That Disputes...

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In Holden v. Holiday Inn Club Vacations Inc., the U.S. Court of Appeals for the Eleventh Circuit recently upheld a consolidated district court ruling granting summary judgment for the defendant furnisher in two Fair Credit...more

Troutman Pepper

Auto Finance – The CFPB Complaints Report — The Consumer Finance Podcast

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Troutman Pepper attorneys Brooke Conkle and Chris Capurso helm this episode to discuss the Consumer Financial Protection Bureau's (CFPB) recent annual report on consumer complaints for 2023. Although the report primarily...more

Troutman Pepper

CFPB Backs Connecticut and California Bills to Prohibit Medical Debt Reporting

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Recently, the Consumer Financial Protection Bureau (CFPB or Bureau) submitted letters to senators in Connecticut and California supporting their proposals to prohibit medical debt reporting....more

Ballard Spahr LLP

CFPB Publishes Consumer Response Annual Report

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The CFPB published its Consumer Response Annual Report for 2023, which discusses the consumer complaints received by the CFPB in that year and how companies responded to those complaints. The CFPB monitors consumers’...more

Orrick, Herrington & Sutcliffe LLP

CFPB issues two opinions that stress FCRA compliance for consumer reporting companies

On January 11, the CFPB issued two advisory opinions to consumer reporting companies, reminding them of FCRA obligations. The first advisory opinion addresses background screening companies and inaccuracies that appear on...more

Cooley LLP

CFPB Issues Background Screening, File Disclosure Advisory Opinions

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On January 11, 2024, the Consumer Financial Protection Bureau (CFPB) issued two advisory opinions addressing consumer reporting agencies' (CRAs) obligations, under the Fair Credit Reporting Act (FCRA), related to information...more

Troutman Pepper

New York Bans Reporting of Medical Debt Effective Immediately

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On December 13, New York Governor Kathy Hochul signed into law S4907A, which prohibits hospitals, medical providers, or ambulance services from providing negative information about medical debt to consumer reporting agencies...more

Troutman Pepper

FCRA Legislation to Watch for the Remainder of 2023

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The Fair Credit Reporting Act saw no shortage of activity in the first half of 2023. That activity included federal and state legislation. Congress has introduced several bills intended to amend the FCRA — and on the state...more

Troutman Pepper

New Developments in the CFPB's FCRA Rulemaking Process — What's Next? — FCRA Focus Podcast and The Consumer Finance Podcast...

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Please join us for a special cross-over episode of FCRA Focus and The Consumer Finance Podcast, where Troutman Pepper Partners Chris Willis, Dave Gettings, Kim Phan, and Ron Raether look at the latest developments in the...more

Troutman Pepper

The 7 Most Notable FCRA Cases of 2023 So Far

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The first half of 2023 has produced significant developments for the Fair Credit Reporting Act. Important decisions have come from multiple areas of the field, including the federal courts of appeals and regulatory agencies. ...more

ArentFox Schiff

The Federal Trade Commission and Artificial Intelligence

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Artificial intelligence (AI) burst into the public consciousness less than one year ago, with OpenAI’s highly successful public release of ChatGPT. Since then, AI-enabled products and services have proliferated throughout the...more

Ballard Spahr LLP

FTC and CFPB submit amicus brief in Second Circuit on FCRA requirement for furnisher to conduct reasonable investigation of...

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The Federal Trade Commission (“FTC”) and the Consumer Financial Protection Bureau (“CFPB”) have filed a joint amicus brief in which they urge the U.S. Court of Appeals for the Second Circuit to reverse the decision of a New...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 2, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...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

McGlinchey Stafford

CFPB Proposes Expanded FCRA Reach – Will It Grab Your Business?

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At a recent White House Roundtable, the Consumer Financial Protection Bureau’s (CFPB) Director, Rohit Chopra, announced that the bureau will promulgate new rules in September that will broaden the categories of...more

Jones Day

The Consumer Financial Protection Bureau Announces Sweeping Rulemaking for Companies That Collect and Furnish Personal Data

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On August 15, 2023, the Consumer Financial Protection Bureau ("CFPB") announced it was launching a rulemaking aimed at subjecting any company or entity that collects and sells consumer data to the Fair Credit Reporting Act...more

Ballard Spahr LLP

FTC recommends use of written adverse action notices by housing providers

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A new FTC blog post titled “Tenant background check reports: Put it in writing” reminds landlords, property managers, and other housing providers of their obligation under the Fair Credit Reporting Act to provide notice of...more

Ballard Spahr LLP

CFPB Summer 2023 Supervisory Highlights looks at auto origination and servicing, consumer reporting, debt collection, deposits,...

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The CFPB has released the Summer 2023 edition of Supervisory Highlights.  The report discusses the Bureau’s examinations in the areas of auto origination and servicing, consumer reporting, debt collection, deposits, mortgage...more

Orrick, Herrington & Sutcliffe LLP

CFPB says furnishers’ investigative duties extend to legal disputes

On April 20, the CFPB filed an amicus brief in a case before the U.S. Court of Appeals for the Eleventh Circuit arguing that the duty to investigate a consumer’s credit dispute applies not only to factual disputes but also to...more

Troutman Pepper

Report Shows Steep Rise in Consumer Complaints to CFPB: Consumer Reporting Leads the List While Debt Collection Declines

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The U.S. PIRG Education Fund (PIRG) released a report analyzing consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) in 2021 and 2022. The report noted that consumer complaint totals set a new...more

Troutman Pepper

CFPB Report Finds Decline in Debt in Collections Appearing on Consumer Reports

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On February 14, the Consumer Financial Protection Bureau (CFPB) released a report entitled Market Snapshot: An Update on Third-Party Debt Collections Tradelines Reporting. The report sought to examine trends in the reporting...more

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