CFPB Warns of Crackdown if Credit-Report Errors Aren't Fixed
The Consumer Financial Protection Bureau (CFPB) told financial firms on Wednesday they must improve their responses to disputes about credit reports. The agency said lenders must conduct a thorough review of documents submitted by consumers to contest any mistakes, and report any mistakes to credit-reporting firms. The CFPB said the three largest credit-reporting firms -- Equifax Inc., Experian PLC, and TransUnion LLC -- have improved the dispute process after a previous scolding from the regulator but said other industry players must do more.
From "CFPB Warns of Crackdown if Credit-Report Errors Aren't Fixed"
Wall Street Journal (09/04/13) Zibel, Alan
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