The Consumer Financial Protection Bureau issued a report highlighting legal violations identified by bureau examinations in 2020.
CFPB reports on 2020 consumer reporting, servicing violations
June 30, 2021 / By ICBA
The Consumer Financial Protection Bureau issued a report highlighting legal violations identified by bureau examinations in 2020.
The Consumer Financial Protection Bureau issued a report highlighting legal violations identified by bureau examinations in 2020.
Report: The CFPB said particularly concerning findings from the report include:
- Consumer reporting companies accepted consumer data from unreliable furnishers.
- People in minority neighborhoods were discouraged from applying for credit.
- Violations of mortgage servicing rules related to foreclosures.
- Student loan servicers misled consumers about loan forgiveness.
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