News & Analysis as of

Relief Measures Credit Reports Financial Services Industry

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

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

Goodwin

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

Goodwin on

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

Hudson Cook, LLP on

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?

Mayer Brown on

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

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

Ballard Spahr LLP on

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

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

Burr & Forman on

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

Snell & Wilmer on

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

Burr & Forman on

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

Saul Ewing LLP on

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

Womble Bond Dickinson on

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

Akerman LLP on

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

Alston & Bird on

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

Akerman LLP

Summary of Key Consumer Finance Provisions in the CARES Act

Akerman LLP on

On March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), legislation intended to help Americans and businesses survive the ongoing public health and economic crisis due to...more

Ballard Spahr LLP

The CARES Act and Credit Reporting

Ballard Spahr LLP on

Section 4021 (Credit Protection During COVID-2019) of the CARES Act amends the Fair Credit Reporting Act (15 U.S.C. § 1681 et seq.) to impose new Coronavirus-related reporting requirements on furnishers of information to...more

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