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Why are complaints about credit bureaus soaring?
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Using Credit Reporting as Debt Collection Strategy Has Changed | Jaburg Wilk
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On January 5, 2021, the Consumer Financial Protection Bureau’s Taskforce on Federal Consumer Financial Law Report issued a two-volume report on “how to improve consumer protection in the financial marketplace.” The Taskforce, comprised of five members, was established in January 2020 and was charged with examining the consumer financial services environment and developing recommendations for improvement. Volume I of the report outlined the history and present landscape of a wide variety of consumer protection laws presently in place. Volume II of the Report contained the Taskforce’s recommendations to enhance the financial services market. Each recommendation was targeted to include the specific government body with the authority to act and the suggested mechanism or action for implementation.