Letters to Regulators: Request that CFPB Prohibit Credit Reporting of Rent Arrears Incurred During COVID-19 Pandemic
AFREF joined a letter to the CFPB requesting they prohibit credit reporting of rent arrears incurred during the COVID-19 pandemic
Tag Archives: credit reporting
Letters to Regulators: Letter to the CFPB Re: Renewed Request to Rescind Language in April 1, 2020 CFPB Guidance Allowing CRAs and Furnishers to Exceed FCRA Deadlines for Disputes
AFREF joined our partners in sending a follow-up letter calling on the CFPB to rescind its April 1, 2020 guidance allowing consumer reporting agencies and furnishers to exceed the dispute investigation deadlines under the Fair Credit Reporting Act. In the six months since we sent our last letter, the situation has only gotten worse, with nearly 26,000 more complaints submitted by consumers about delayed or nonexistent responses to credit/consumer reporting disputes. We urged the Bureau to revoke the guidance as soon as possible to prevent further consumer harm.
Letters to Regulators: Joint Letter Asking CFPB to Rescind Guidance Allowing Credit Reporting Agencies to Ignore Statutory Deadlines
AFR joined our partners in calling on the CFPB to rescind its guidance allowing credit reporting agencies and furnishers to disregard statutory deadlines.
Letter to Congress: Joint Letter in Support of Credit Reporting Provisions in HEROES Act
Letter to Congress from 73 groups in support of the credit reporting provisions in the HEROES Act
Letter to Congress: Renewed Call for Credit and Debt Protections in COVID-19 Relief
Letter calling on Congress to include consumer protections in COVID-19 relief
News Release: AFR Applauds House Passage of Comprehensive CREDIT Act
Yesterday, the House passed the Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2020 (Comprehensive CREDIT Act), H.R. 3621, in a 221-189 vote.
News Release: AFR Statement on Financial Services Committee Markup on Credit Reporting
“Credit reports and credit scores play a critical role in the economic lives of Americans. They are the gatekeeper for affordable credit, insurance, rental housing, and sometimes unfortunately even a job. Yet they suffer from unacceptable rates of inaccuracy. This package would enact a sea change that would make the American credit reporting system more accurate and fairer to consumers.”
Letter to Congress: Letter to House Financial Services Committee on Credit Reporting Package
Credit reports and credit scores play a critical role in the economic lives of Americans. They are the gatekeeper for affordable credit, insurance, rental housing, and sometimes unfortunately even a job. Yet they suffer from unacceptable rates of inaccuracy. This package would enact a sea change that would make the American credit reporting system more accurate and fairer to consumers.
AFR Statement: Equifax Earnings Highlight Broken Model of Credit Reporting
The hack may even have been a boon to the bottom line of credit reporting companies, which charge consumers to freeze their credit report or monitor their credit, even though consumers are seeking these protections due to this massive breach.
AFR Statement: Monopoly Man Highlights Need for Congress to Act on Consumer Rights
But the question is, what will Congress do after a hearing on data breaches? Will they act to restore our right to control information about our own lives, and protect our privacy, or will they let Equifax and other data brokers turn the problems they caused into an excuse for undermining existing state laws with a sham weaker federal standard that replaces them? Will they restrict access to the courts?