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Industry executives coming off a tough year are wondering what the transition will cost and how many borrowers it'll bring in.
August 15 -
Credit bureaus should know better than to include "impossible" data, such as someone defaulting on a loan before they were born, says Consumer Financial Protection Bureau Director Rohit Chopra.
October 21 -
In a letter to the agency’s new director, top Senate Democrats recommended policy steps intended to limit mistakes in consumers’ credit files that they said “can ruin lives.”
November 11 -
Kikoff, whose investors include Golden State Warriors' star Stephen Curry, provides applicants with a no-fee $500 revolving line of credit they can use to purchase personal finance books and courses from its online store. The company then reports this payment activity to some credit bureaus.
June 30 -
Democrats are pushing for a public-sector alternative to the three main credit bureaus, but Republicans argue that the government is ill-equipped to safely handle consumer data and produce accurate reports.
June 29 -
Some say Equifax, Experian and TransUnion are too slow to investigate grievances, prompting more complaints to the Consumer Financial Protection Bureau. But the big three say other forces are at work.
April 30 -
Complaints to the Consumer Financial Protection Bureau jumped 54% to 542,300 in 2020. Concerns about credit reports have long outnumbered those in other categories and jumped significantly as a share of the total from 2019.
March 24 -
Loans with coronavirus-related forbearance have to be reported as current to the credit bureaus but there’s a ripple effect from them that has implications for credit reports and underwriting.
May 22 -
If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees or placing a temporary cap on consumer lending rates.
April 1 -
The agency said lenders should avoid reporting delinquent payments to credit bureaus for consumers who have sought payment relief due to the pandemic.
April 1