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    Your Weekend Recap: Experian Lied About Credit Scores it Sold
    Your Weekend Recap: Experian Lied About Credit Scores it Sold

    News related to fraud and the Fair Credit Reporting Act that broke last weekend.

    The top story? Experian lied to consumers about credit scores it sold, must pay $3 million

    Your Weekly Financial e-Update: Appeals Court to Reconsider CFPB Independence

     

    By: Carly Souther

     

    Carly Souther

     

    21 February 2017Op-Ed: "Trump Wants to Cut Red Tape? He Should Start with the CFPB." Jay Richards, PhD, asserts that "[i]f President Trump is looking for ways to make good on his pledge to slash counterproductive regulations, he should support the" recently introduced bill to abolish the Consumer Financial Protection Bureau (CFPB).  The bill, introduced by Senator Ted Cruz and Rep. John Ratcliffe (both Texas Republicans) on the 14th of February, would repeal Title...

    Furnishers' Compliance Obligations for Consumer Credit Information Under the FCRA and ECOA

    Banks and credit unions that provide information to Credit Reporting Agencies (CRAs) must implement effective policies and procedures to ensure compliance with the Fair Credit Reporting Act (FCRA) and the Equal Credit Opportunity Act (ECOA). One important policy your financial institution must establish is the periodic testing of your reporting systems to verify complying with the requirements of the FCRA and ECOA.