New CFPB Report Details Problems and Recent Reforms at Consumer Reporting Companies

A March 2017 report by the Consumer Financial Protection Bureau sets out serious problems uncovered by examinations at the Big Three consumer reporting companies (Experian, TransUnion, and Equifax) and details significant new reforms that these companies must implement to protect consumers. 

 

This article by National Consumer Law Center staff attorney Chi Chi Wu walks through the problems and the reforms required by the three credit reporting agencies and their furnishers that ultimately could benefit up to 11 million consumers who have serious errors in their credit reports.