Senators challenge regulators on credit reporting issues

Lawmakers on the U.S. Senate Subcommittee on Consumer Protection, Product Safety and Insurance pressured the Consumer Financial Protection Bureau and Federal Trade Commission to take additional steps to ensure that consumers are not harmed by credit reporting inaccuracies. Lawmakers also voiced concern about the usefulness of the error resolution strategies that are available to consumers who find an error and the steps credit bureaus and their information furnishers take to ensure that corrected errors don’t crop up on future reports.