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The CFPB reminded consumer reporting companies of their obligations under the Fair Credit Reporting Act to (i) address inaccurate information found in background checks, (ii) monitor for improper credit file sharing and (iii) ensure that background check information is accessible to consumers.

In a "Consumer Compliance Supervisory Highlights" Report, the FDIC summarized the results of consumer compliance examinations of supervised institutions in 2022 and offered recommendations to strengthen compliance management systems.