Category Archives: Consumer Financial Protection Bureau (CFPB)

Consumer Finance Protection Bureau Probes Equifax

 The Consumer Financial Protection Bureau has put a full-scale probe of how Equifax (NYSE:EFX) failed to protect the personal data of some 143M Americans on ice, sources told Reuters. The effort has sputtered since Mick Mulvaney was named director in November, raising questions about how he will police a data-warehousing industry that has enormous sway […]

CFPB Fines Xerox for Furnishing Incorrect Information to Credit Reporting Agencies

https://www.acainternational.org/news/cfpb-fines-xerox-for-furnishing-incorrect-information-to-credit-reporting-agencies   Contact us immediately if you discover any unfamiliar entries on your credit report.  We represent consumers on contingency to obtain a permanently corrected report and, in many cases, compensation for violations of the federal Fair Credit Reporting Act.

Uber was hacked in 2016, and data on 57 million people was exposed

http://money.cnn.com/2017/11/21/technology/uber-hacked-2016/index.html Contact us immediately if you discover any unfamiliar entries on your credit report.  We represent consumers on contingency to obtain a permanently corrected report and, in many cases, compensation for violations of the federal Fair Credit Reporting Act. http://creditreportlawgroup.com/lawyer/Identity-Theft_cp16179.htm  

Richard Cordray to step down as head of Consumer Financial Protection Bureau

Richard Cordary

A one-two punch. First the Congressional override of the CFPB’s rule limiting mandatory arbitration clauses in certain consumer financial agreements. And now the loss of Cordray who has been an important advocate for consumer financial rights.   http://money.cnn.com/2017/11/15/news/richard-cordray-cfpb-stepping-down/index.html

Despite Equifax hack, GOP lawmakers want to deregulate credit agencies

Equifax Breach

Clear partisan lines emerge in response to the Equifax breach. Last week, Democrats introduced the Freedom from Equifax Exploitation Act, barring credit bureaus the ability to charge a fee for freezing consumer credit. House Republicans, on the other hand, propose to undermine credit-industry regulations with new legislation. The Credit Services Protection Act, introduced by Ed […]

143 Million Reasons Congress Shouldn’t Gut the Fair Credit Reporting Act

Equifax on a Billboard

Congressman Barry Loudermilk’s proposal to weaken the Fair Credit Reporting Act (FCRA) entered the national discourse on the heels of Equifax’s potentially catastrophic data breach. Industry watchdogs highlight the sharp contrast between the need for credit-industry regulation (as evidenced by the Equifax breach) and the coziness with which some Congress members comport themselves to the […]

House Bill Would Let Companies Off the Hook for Known & Devastating Mistakes

Magnifying Glass on a Credit Report

For nearly half a century, the Fair Credit Reporting Act (FCRA) has empowered American consumers, serving as a deterrent against credit reporting and background check errors—nowadays an all-too-familiar feature of the credit reporting industry. The possibility of punitive damages (available in some matters) supplies the FCRA with a great deal of its bite. Georgia Congressman, […]