News Topic: Credit Reporting

The Consumer Financial Protection Bureau is among several agencies that "continue to investigate events related to" last year's Equifax brief, the credit reporting firm said in a securities filing. ... Read full article

I just had the pleasure of reading Duke Law Professor Sara Sternberg Greene's paper  The Bootstrap Trap .  I highly recommend it for anyone who is interested in the intersection of consumer credit and poverty law. ... Read full article

It is unclear whether the Consumer Financial Protection Bureau is abandoning its supervisory oversight of Equifax or just taking a back seat to the Federal Trade Commission as the latter investigates the credit bureau. ... Read full article

Readers react to the Federal Housing Finance Agency considering changing its credit scoring policy, slam the possibility of enforcing mandatory penalties for data breaches at credit reporting agencies, weigh the possible nomination of a credit union ... Read full article

Readers sound off on Mick Mulvaney’s plan to hire political appointees at the Consumer Financial Protection Bureau, question what’s behind the failure of Washington Federal Bank for Savings in Chicago, react to an argument that Equifax must endure, and ... Read full article

It was a bad year for the CEO of Equifax, the founder of a high-flying fintech and the regulatory agency bankers love to hate. ... Read full article

The credit bureau enraged many with its response to a massive data breach this fall, but closing the company down would ultimately harm consumers. ... Read full article

The Consumer Financial Protection Bureau settled a $1.1 million enforcement action on Monday with Xerox Business Services, alleging that its software misreported borrower information to credit reporting agencies. ... Read full article

The Consumer Financial Protection Bureau is seeking more information about consumers' experience with free access to credit scores. ... Read full article

Readers weigh in on a blockchain-based credit bureau, react to the CFPB’s arbitration rule and chime in on calls to invest more in women. ... Read full article

Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger. ... Read full article

Readers weigh in on online lending growth, how President Trump’s healthcare policies affect lenders, regulation’s effects on community banks and more. ... Read full article

Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports. ... Read full article

Congress may soon try to limit the personal identifiable information that companies and the government can collect on consumers based on their reaction to the massive data breach at Equifax. ... Read full article

Not only will banks be on the hook for counterfeit loans to identity thieves, but they will likely lose loan volume, and ultimately revenue, from changes in consumer behavior. ... Read full article

Yes, the credit bureau goofed badly on data security, and it proved to be worse at crisis management. But other companies have been just as sloppy with cyber defenses, and business and government leaders should have tackled these problems long before now. ... Read full article

Equifax observed an increasingly well-worn ritual of scandal-ridden firms by jettisoning CEO Richard Smith: apologize, promise to do better in the future, and sacrifice your top executive in the hopes it will ward off action by Congress and regulators. ... Read full article

Summit Credit Union in Madison, Wis., has filed what's believed to be the first lawsuit by a financial institution in connection with the massive data breach. ... Read full article