The CFPB issued an interpretive rule clarifying state authority to protect residents through the issuance and enforcement of fair credit reporting laws.
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The CFPB charged a credit-reporting agency, two of its subsidiaries and one of its senior executives with repeatedly failing to comply with a previously issued law enforcement order.
The CFPB updated its supervisory operations and examinations manual to better pursue "discrimination in all consumer finance markets, including credit, servicing, collections, consumer reporting, payments, remittances, and deposits."
In a new report, the CFPB asserted that credit bureaus Equifax, Experian and TransUnion did not comply with statutory obligations to respond to consumer complaints submitted through the CFPB's complaint process.
The CFPB highlighted findings from supervisory examinations completed between January 2021 and June 2021. The examinations covered, among other things, credit card account management, debt collection, deposits, fair lending, mortgage servicing and payday lending.