Credit reporting

Affirm is reporting consumers' buy now/pay later loans to Experian, following a February study with FICO. It's one of the first steps in credit reporting for BNPL, potentially complicating banks' assessments for other types of lending.

Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau's rule barring medical debt from credit reports.

The Consumer Financial Protection Bureau, now led by Treasury Secretary Scott Bessent, agreed to temporarily halt enforcement and litigation over its medical debt rule, handing the banking industry an immediate reprieve.

The Consumer Financial Protection Bureau said American Honda Finance Corp. inaccurately reported 300,000 borrowers as delinquent who had paused loan payments during the pandemic.

Equifax agreed to resolve allegations that it failed to conduct proper investigations of consumer disputes, ignored evidence and allowed previously deleted inaccuracies to be reinstated on credit reports. The credit reporting bureau also shared inaccurate credit scores and data about consumers with lenders.

Two trade groups filed a lawsuit against the Consumer Financial Protection Bureau claiming it exceeded its authority and ignored the legislative history on medical debts.

Experian said it has gone "above and beyond the law" to investigate consumer disputes related to the accuracy of information.

The Consumer Financial Protection Bureau finalized a rule that will remove medical  bills from credit reports to end what the bureau called "coercive debt collection practices."

The Consumer Financial Protection Bureau warned companies about modern-day surveillance of workers and requirements to follow the Fair Credit Reporting Act.

The Consumer Financial Protection Bureau's proposal to eliminate medical debts from credit reports is under attack from debt collectors, which claim the rule will drive up litigation costs and drive doctors out of business.