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CFPB addresses ‘shoddy’ investigation practices by consumer reporting companies
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Consumer Protection, Financial Stability, Nonbank Financial
Tuesday, November 22, 2022
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The Consumer Financial Protection Bureau (CFPB) issued a circular providing guidance on proper practices for investigation by consumer reporting companies. The circular affirms that neither consumer reporting companies nor information furnishers can skirt dispute investigation requirements.
The CFPB offers guidance on how federal and state enforcers can bring claims against companies that fail to investigate properly.
Read on for more details.
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