Credit reporting

A bill by Rep. Patrick McHenry, R-N.C., would give the CFPB authority to oversee cybersecurity efforts at the credit bureaus.

For four years running, consumer complaints about the three national credit reporting agencies — Experian, Equifax and TransUnion — have dominated the CFPB’s database. What do they keep doing wrong?

The Consumer Financial Protection Bureau received over a quarter-million complaints in 2018, according to analysis by an advocacy group that urged the agency to maintain public access to its database.

Some fintechs have figured out how to provide international students and immigrants with credit cards and loans. Machine learning makes the underwriting possible.

The new cloud-based solution is intended to help financial institutions make quicker credit decisions by integrating consumers’ histories with advanced software.

The watchdog’s report — requested by Sen. Elizabeth Warren, D-Mass., and Rep. Elijah Cummings, D-Md. — called for civil money penalty authority and better supervision to guard consumer data.

First-term Rep. Rashida Tlaib, D-Mich., has sponsored the Prevent Discrimination in Auto Insurance Act in order to prevent “undue burden” on low-income individuals seeking auto insurance.

The root of the credit reporting sector’s problems may be its dominance by a handful of big firms, lawmakers from both parties said at a hearing.

The root of the credit reporting sector’s problems may be its dominance by a handful of big firms, lawmakers from both parties said at a hearing.

Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.

The Senate Banking Committee will likely vote on Todd Harper and Rodney Hood's nominations to the federal regulator, while lawmakers hold hearings on a host of credit union priorities.

The top Republican and Democrat on the Senate Banking Committee are asking for stakeholders to weigh in on data collection issues as lawmakers consider legislative responses to recent breaches.

As another possible shutdown looms, concerns about furloughed workers’ credit histories have shifted the reform discussion away from data security.

The House Financial Services Committee will hold a hearing Feb. 26 on "holding credit bureaus accountable" — one of seven hearings scheduled by the panel for the month.

Spring Labs is spearheading a group of prominent fintech lenders to use a blockchain-based, peer-to-peer network to share consumer information to help with ID verification on loan applications.

The company owning brands such as Kay Jewelers and Jared the Galleria of Jewelry will pay $11 million under a settlement with the consumer bureau and New York's attorney general.

The industry has largely avoided added federal oversight after the Equifax hack; the product has created a “financial albatross” as consumers game the system.

The banking subsidiary of the Bloomington, Ill., insurer must stop providing inaccurate information to the credit bureaus under a consent order.

A credit-builder loan at Virginia-based The Partnership Federal Credit Union wasn't meeting the needs of as many members as it could. Here's how the CU fixed that problem.

Self Lender is launching a secured credit card next year in the hopes of attracting big-bank partners that can use it to comply with the Community Reinvestment Act.