CFPB to propose rules for how companies access customer data


The agency plans to issue an advance notice of proposed rulemaking dealing with efforts by fintechs and data aggregators to leverage a consumer's bank account information.


Brown, Warren call on CFPB to protect consumers, not financial firms


Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.”


CFPB clarifies credit reporting procedures in light of coronavirus


The agency said lenders should avoid reporting delinquent payments to credit bureaus for consumers who have sought payment relief due to the pandemic.


House nears passage of bills to overhaul credit reporting


The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.


‘Absolute scam’: Complaints about credit monitoring plans flood CFPB


Regulators have long warned the credit bureaus about deceptive marketing that causes consumers to sign up unwittingly for paid monitoring services. But the practice has persisted, according to complaint data.


House advances bills to protect workers' credit in government shutdown


The House Financial Services Committee passed a bill that would exclude adverse credit information for consumers impacted by a government shutdown.


FTC misled consumers about Equifax settlement, Warren says


The Massachusetts Democrat is questioning a claim by the agency about the amount of redress available to those affected by the credit bureau's 2017 data breach.


House revives effort to allow nontraditional data in credit scores


The bill, similar to legislation that passed the chamber last year, would permit the inclusion of items such as rent and telecom payments to help consumers build their credit profiles.


House Dem proposes banning use of credit scores for auto insurance


First-term Rep. Rashida Tlaib, D-Mich., has sponsored the Prevent Discrimination in Auto Insurance Act in order to prevent “undue burden” on low-income individuals seeking auto insurance.


Bills to reform credit bureaus unveiled on eve of hearing


Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.