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Federal Trade Commission (FTC) Credit Reporting Agencies

Shipkevich PLLC

CFPB Casts Larger Net over Credit Data Brokers, Furnishers, and Reporting Agencies.

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Elections are looming around the corner for President Biden, which means it’s time to show results. In an effort to make an impact, the Consumer Financial Protection Bureau (“CFPB”) is making strides in the consumer credit...more

Holland & Knight LLP

The FTC Enforces the Fair Credit Reporting Act

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In this episode of his "Clearly Conspicuous" podcast series, "The FTC Enforces the Fair Credit Reporting Act," consumer protection attorney Anthony DiResta discusses the Federal Trade Commision's (FTC) recent actions against...more

Akin Gump Strauss Hauer & Feld LLP

FTC Requires Non-Banking Financial Institutions to Report Data Security Breaches

Beginning May 11, 2024, non-banking financial institutions regulated by the Federal Trade Commission (FTC) will be required to submit notifications of data breaches or other security events that impact 500+ consumers. The FTC...more

Alston & Bird

CFPB Touts 2023 Greatest Hits and Casts a Line for Enforcement Hires

Alston & Bird on

What Happened? Earlier this week, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released a blog post touting its 2023 successes in safeguarding “household financial stability” through the levying of fines and...more

Troutman Pepper

The 7 Most Notable FCRA Cases of 2023 So Far

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The first half of 2023 has produced significant developments for the Fair Credit Reporting Act. Important decisions have come from multiple areas of the field, including the federal courts of appeals and regulatory agencies. ...more

Ballard Spahr LLP

CFPB issues annual FDCPA report; FTC issues annual letter on debt collection to CFPB (UPDATED)

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The CFPB has issued its annual Fair Debt Collection Practices Act report covering the CFPB’s debt collection activities in 2022.  The report incorporates information from the FTC’s most recent annual letter to the CFPB...more

Jaburg Wilk

New FTC Rule Expands Reach of Data Breach Notification Requirement to Non-Banking Financial Institutions

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In an amendment to the Safeguards Rule of the Gramm-Leach-Bliley Act (GLBA), which was officially announced on October 27, 2023, the Federal Trade Commission (FTC) will mandate that a wide array of nonbank financial...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #376 – Credit Reporting Agencies Extend Program to Check Credit Report Weekly for Free

Credit reporting agencies TransUnion, Experian, and Equifax have extended their programs to provide consumers with the ability to access their credit reports for free on a weekly, rather than yearly, basis....more

Goodwin

FTC and CFPB Announce $15 Million Settlement Against Credit Reporting Agency For Alleged Inaccuracies In Tenant Screening Reports

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​On October 12, 2023, the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) announced that they filed a joint complaint​ and obtained a $15 million settlement​ against a parent credit...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 #2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

FTC and CFPB submit amicus brief in Second Circuit on FCRA requirement for furnisher to conduct reasonable investigation of...

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The Federal Trade Commission (“FTC”) and the Consumer Financial Protection Bureau (“CFPB”) have filed a joint amicus brief in which they urge the U.S. Court of Appeals for the Second Circuit to reverse the decision of a New...more

Sheppard Mullin Richter & Hampton LLP

CFPB Forecasts New Rule Cracking Down on Consumer Data Sales

On August 15, CFPB Director Rohit Chopra announced plans for new CFPB rules that would strictly limit the types of consumer data that can be sold by businesses and ensure that data brokers comply with the Fair Credit...more

Troutman Pepper

Federal District Court Grants Summary Judgment Dismissing Claim that Creditor Conducted an Unreasonable Investigation of a FCRA...

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In Suluki v. Credit One Bank, N.A. (Credit One), the Southern District of New York recently granted summary judgement to a creditor in a suit alleging violations of the Fair Credit Reporting Act (FCRA) for failure to conduct...more

Orrick, Herrington & Sutcliffe LLP

FTC examines small business credit reporting

On March 16, the FTC launched an inquiry into the small business credit reporting industry, seeking information from firms on how information is collected and processed for business credit reports, how these reports are...more

Troutman Pepper

FTC Orders Small Business Credit Reporting Companies to Disclose Information About Industry

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The Federal Trade Commission (FTC) announced that it is launching an inquiry into the small business credit reporting industry. Specifically, it is ordering five firms to provide detailed information about their products and...more

Venable LLP

Payment Processors: Are You Prepared to Uncover "Dark Patterns"?

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Risk management personnel who underwrite e-commerce merchants should have some basic understanding of the types of online merchant marketing and sales practices that are deceptive and misleading....more

Hudson Cook, LLP

CFPB Bites of the Month - August Top 10

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In this month's Top 10 article, we share some of our top "bites" for the prior month covered during the August 17, 2022 webinar. So, what happened last month? Bite #10 - Extra Bite: Global payments company plans to appeal...more

Spilman Thomas & Battle, PLLC

All Consuming - Student Loans, Medical Debt, FTC, Payment Systems, and Credit Reporting, Volume 3, Issue 7

A New Student Loan Company is Now Taking Over the Accounts of Public Servants Seeking Debt Cancellation "This also comes as borrowers have 4 months left to apply for extended student-loan relief." Why this is important:...more

Troutman Pepper

FTC and CFPB Join Forces on Amicus Brief Arguing That FCRA Does Not Distinguish Between Legal and Factual Inaccuracy

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On May 5, the Consumer Financial Protection Bureau (CFPB or Bureau) and the Federal Trade Commission (FTC) together filed an amicus brief in an appeal pending before the Court of Appeals for the Second Circuit, Sessa v. Trans...more

Sheppard Mullin Richter & Hampton LLP

FTC Finalizes Order Against Leading Provider of Business Credit Reports

The FTC recently finalized an order against a leading provider of business credit report services, alleged to have deceived business regarding the value of products offered and failing to correct errors on customers’ credit...more

Venable LLP

Latest CFPB Lawsuit Sheds Light on Digital Dark Patterns

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A lawsuit filed by the CFPB last week against a national credit reporting agency provides some insight into the types of website features and designs that regulators like the Consumer Financial Protection Bureau and Federal...more

Wiley Rein LLP

Wiley Consumer Protection Download (April 18, 2022)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Hudson Cook, LLP

Is it time to "tune up" your compliance with the Fair Credit Reporting Act ("FCRA")?

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In September 2021, the FTC approved technical changes to five regulations implementing the Fair Credit Reporting Act. Under the Dodd-Frank Act, the CFPB may not exercise any rulemaking, supervisory, enforcement or any...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 24, 2022)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Cozen O'Connor

Dun & Bradstreet Agrees to Refund Consumers and Reform Its Marketing and Credit Report Correction Practices

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The FTC reached a settlement with business credit reports provider Dun & Bradstreet, Inc. to resolve allegations that D&B used deceptive and unfair practices to sell its products to small and mid-sized businesses...more

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