CFPB Warns 6 Consumer Reporting Firms Over Free Reports

Law360, New York (November 29, 2012, 6:34 PM EST) -- The Consumer Financial Protection Bureau on Thursday warned specialty consumer reporting agencies that they are required to provide a streamlined process for customers to get a free annual report, and sent letters to six such firms warning them about problems the agency found.

Under the Fair Credit Reporting Act, consumer reporting agencies — including specialty ones — are required to provide consumers a free report each year, as well as an easy process for obtaining one. The CFPB said in its bulletin that it had found...
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