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Credit Reports Relief Measures

Hudson Cook, LLP

CFPB Bites of the Month - January 2024 - A Hazy Shade of Winter With the CFPB

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In this month's article, we share some of our top "bites" for the prior and current month covered during the January 2024 webinar....more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 2, Issue 6

Biden Administration to Cancel $1 Billion in Student-Loan Debt Held by Scammed Borrowers - “Borrowers who requested loan forgiveness but got only partial relief under former Secretary of Education Betsy DeVos will have...more

American Conference Institute (ACI)

[Virtual Event] 27th NATIONAL FORUM ON Residential Mortgage Regulatory Enforcement & Litigation - November 17th - 18th, 9:00 am -...

ACI’s Residential Mortgage Forum is a premier gathering of leading servicers, lenders, external counsel, and regulators engaging in dialogue on how to navigate the very complex residential mortgage enforcement and litigation...more

BCLP

CFPB Issues CARES Act Credit Reporting FAQs

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On June 16th, the CFPB issued a Compliance Aid Frequently Asked Questions (FAQs) addressing the CARES Act changes to the Fair Credit Reporting Act (FCRA) and clarifying furnisher reporting obligations regarding consumers who...more

Akerman LLP

CFPB Issues Compliance Aid Regarding CARES Act Credit Reporting Provisions

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On June 16, the Consumer Financial Protection Bureau (CFPB) issued a compliance guide clarifying the credit reporting protections provided by the Coronavirus Aid, Relief and Economic Security (CARES) Act....more

Ballard Spahr LLP

CFPB issues credit reporting FAQs for industry related to CARES Act requirements

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The CFPB issued ten FAQs for industry that address the CARES Act’s credit reporting requirements and other COVID-19-related credit reporting issues....more

Goodwin

Financial Services Weekly Roundup: Treasury And SBA Codify Changes To PPP Flexibility Act

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In This Issue. The U.S. Department of the Treasury (Treasury) and the Small Business Administration (SBA) released an interim final rule to reflect changes made by H.R. 7010, the Paycheck Protection Program Flexibility Act,...more

Hudson Cook, LLP

Credit Reporting in a COVID World

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Creditors that furnish information on consumer accounts to consumer reporting agencies must do so with accuracy and integrity consistent with the Fair Credit Reporting Act and its implementing regulations. "Accuracy" means...more

Mayer Brown

Debt Collection During and After the Pandemic: Do Certain US Legislators and Agencies Seek a Debt Collection Ice Age?

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As the COVID-19 pandemic rages on, state and federal lawmakers have taken aggressive measures to protect the health and economic security of their citizens, including legislative and regulatory measures limiting or proposing...more

Goodwin

COVID-19 and Credit Reporting – Regulatory Response and Resulting Litigation Risks

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Passed in response to the impact of COVID-19, section 4021 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R. 748, 116th Cong. (2020)) amended the Fair Credit Reporting Act (FCRA) in a variety of ways...more

Spilman Thomas & Battle, PLLC

Watch List - Proposed Rent and Mortgage Cancellation Act of 2020 Suspends Payments During Pandemic but Requires Landlords and...

On April 17, a bill was introduced in the United States House of Representatives seeking to create the Rent and Mortgage Cancellation Act of 2020. The primary feature of the bill is it would suspend all rent and mortgage...more

Orrick, Herrington & Sutcliffe LLP

State Attorneys General Urge CFPB to Enforce the CARES Act and Fair Credit Reporting Act

Twenty-one state Attorneys General, along with the AGs for Washington, D.C. and Puerto Rico, have sent a letter to the Consumer Financial Protection Bureau (CFPB or Bureau) urging withdrawal of CFPB’s guidance relaxing...more

Ballard Spahr LLP

State AGs ask Director Kraninger to withdraw CFPB COVID-19 credit reporting guidance

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A group of attorneys general (AGs) from twenty-one states, the District of Columbia, and Puerto Rico has sent a letter to CFPB Director Kraninger requesting that the CFPB immediately withdraw its guidance regarding credit...more

Hudson Cook, LLP

Debt Collection Challenges Amid the Coronavirus (COVID-19)

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A recent poll taken since the coronavirus outbreak paints a grim picture of American household finances: Almost two-thirds of respondents (64%) anticipate that lost wages due to the pandemic will yield at least a $500...more

Burr & Forman

CFPB Receives Pushback from 23 Attorneys General on Credit Reporting Requirements

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On April 13, 2020, twenty-three Attorneys General sent a joint letter urging the CFPB to withdraw its recent guidance on Fair Credit Reporting Act (FCRA) requirements during the COVID-19 crisis....more

Hinshaw & Culbertson - Consumer Crossroads

CFPB Relaxes Enforcement of FCRA in the Wake of Coronavirus Crisis But Furnishers' Obligations to Consumers Remain Unchanged

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in response to the continuing threat posed by the coronavirus (COVID-19) pandemic. Among other provisions,...more

Burr & Forman

CFPB Announces Flexibility Regarding Credit Reporting Obligations During COVID-19 Pandemic

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On April 1, 2020, the Consumer Financial Protection Bureau (CFPB) issued a Statement on Supervisory and Enforcement Practices Regarding the Fair Credit Reporting Act and Regulation V in Light of the CARES Act (Policy...more

McGlinchey Stafford

FCRA Enforcement and the CARES Act

McGlinchey Stafford on

On March 27, 2020, the President signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act). Amongst its many provisions is an amendment to the Fair Credit Reporting Act, 15 U.S.C. § 1681 (FCRA) that adds...more

Snell & Wilmer

CFPB Outlines Responsibilities of Credit Reporting Agencies and Furnishers in Response to the COVID-19 Pandemic

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The Consumer Financial Protection Bureau (the “CFPB”) released a Policy Statement outlining the responsibilities of credit reporting companies and furnishers during the COVID-19 pandemic. As lenders continue to offer...more

Burr & Forman

CFPB Releases COVID-19 Credit Reporting Guidance

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On April 1, 2020, the Consumer Financial Protection Bureau (“CFPB”) released a policy statement providing guidance on credit reporting companies’ and furnishers’ responsibilities during COVID-19. The CFPB’s policy statement...more

Saul Ewing LLP

An Update on Key Credit Reporting Issues and Challenges During the COVID-19 Pandemic

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I. The Coronavirus Aid, Relief, and Economy Security Act. (CARES) Act: The CARES Act amends the Fair Credit Reporting Act to provide guidance for furnishers during the COVID-19 pandemic. ...more

Womble Bond Dickinson

CARES Act Amends Furnishers’ Duties Under FCRA

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The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law on March 27, 2020, amends the duties of a furnisher of information under the Fair Credit Reporting Act (FCRA) in light of the COVID-19...more

Akerman LLP

CFPB Issues Credit Reporting Guidance During COVID-19 Pandemic

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On April 1, the Consumer Financial Protection Bureau (CFPB) issued a policy statement addressing credit reporting issues faced by consumers and credit furnishers in light of the COVID-19 pandemic....more

Alston & Bird

Key Provisions of the CARES Act Affecting Mortgage Servicers

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A&B ABstract: In response to COVID-19, on Friday March 28, 2020, President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”).  This is a monumental $2 trillion stimulus...more

Ballard Spahr LLP

CARES Act Includes Provisions On Credit Reporting And Student Loans

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The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following provisions of particular interest to members of the consumer financial services industry...more

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