CFPB: Credit bureaus and creditors often seek to avoid the duty to reasonably investigate consumer disputes

On November 10, 2022 the Consumer Financial Protection Bureau (CFPB) issued “Consumer Financial Protection Circular 2022-07 – Reasonable Investigation of consumer reporting disputes.” Below are key excerpts from CFPB Circular 2022-07. You can read the full document here. [Congress enacted the Fair Credit Reporting Act (FCRA)] to prevent consumers from being unjustly damaged because of […]

Can you sue after a credit dispute?

When you dispute an inaccurate debt on your credit reports to one or more credit bureaus (like Equifax, Experian, and TransUnion), the Fair Credit Reporting Act (FCRA) requires credit bureaus and the creditor that supplied the inaccurate information to the credit bureaus (called a furnisher under the FCRA) to take action. Specifically, the Fair Credit […]